Eagerly or anxiously, as in We waited for the announcement of the winner with bated breath. This expression literally means "holding one's breath" (bate means "restrain"). Today it is also used somewhat ironically, indicating one is not all that eager or anxious. [Late 1500s] Also see hold one's breath, def. 2.

The American Heritage® Dictionary of Idioms by Christine Ammer. Copyright © 1997 by The Christine Ammer 1992 Trust. Published by Houghton Mifflin Company. All rights reserved.