Speaking to VideoGamer.com at a recent Banjo-Kazooie: Nuts and Bolts press day, Rare's lead technical artist Neill Harrison and senior animator Elissa Miller have said the door is always open for a classic Rare franchise to return, but they're not aware of anything right now.
"There's always the possibility for franchises to come back, but as far as we're aware... nothing at the moment. Never say never!" said Miller
Harrison added that it's not Rare's style to simply turn around sequels: "There's always the option. Obviously we've done Banjo, but we've taken it in a new direction. I think as a company it would be very easy for us to just churn out sequels to our old IP."