Officially, no. You should be able to use as low a bus speed as you want, even 10hz. And pause transfers for long periods at random, even for seconds at a time. I've done this with some I2C slaves from Phillips and Microchip.
However, not every device adheres perfectly to the I2C specification. This seems to be the case more often when the slave is a CPU/MCU, as the programmers might have rolled their own software implementation, and not gotten it quite right.
Some more details might be helpful. What slave device are you using? What USB/I2C bridge?