By Chris Dorrell A City A.M. poll of top economists has revealed that the Bank of England is expected to start cutting interest rates in August before the US Federal Reserve as inflation edges back to the government’s two per cent target. Around 57 per cent of the 21 economists surveyed thought the Bank would start cutting rates in August, while a further 38 per cent expected the first reduction in June. Just one economist thought the Bank would wait until September. “Though interest rates will remain on hold in May, weakening inflation may persuade more rate-setters to vote to loosen policy,”…