LONDON, June 14 Reuters Any lingering hopes Prime Minister Rishi Sunak might still have for a preelection interest rate cut will probably be dashed next week, when the Bank of England looks set to signal that lower borrowing costs await Britain39;s next government instead.

The BoE has been inching towards a first reduction in rates since the start of the coronavirus pandemic more than four years ago, encouraging Sunak to tell voters still feeling the effects of the costofliving squeeze that a turning point is coming.

Unfortunately for Sunak and his struggling Conservative Party, Britain39;s inflation pressures still appear too hot for the BoE to cut rates at its June 20 meeting the last before the election and join other central banks that have done so.

A Reuters poll published on Wednesday showed 63 of 65 economists thought a first cut would not come until Aug. 1. Most also expected another reduction before the end of the year.

Two analysts expect the first move by the BoE to come in September. None saw a cut on Thursday, after the BoE39;s June meeting.

They can afford to wait, Peter Dixon, head of EMEA country research with Fitch Solutions, said. The ECB has acted but globally the environment suggests the Bank can wait a little longer. Six weeks isn39;t going to hurt.

On Wednesday, the U.S. Federal Reserve pushed out the start of its rate cuts to possibly as late as December.

The approach of Britain39;s July 4 election has prevented BoE policymakers from…