As election looms, BoE set to sit tight on UK rate
![As election looms, BoE set to sit tight on UK rate](https://netstorage-legit.akamaized.net/images/fed24caee9dc8b56.jpg)
The Bank of England was set to hold its interest rate steady on Thursday despite slowing UK inflation, with higher price risks and Britain's looming election preventing a cut, according to analysts. Nevertheless, the central bank "should not hesitate to cut interest rates, even during an election campaign.