LONDON—The Bank of England will press ahead with its tightening cycle next month as red-hot inflation runs well ahead of target and the economic threat from the Omicron coronavirus variant should prove milder than previous mutations, a Reuters poll found. Britain’s central bank became last month the first major rate-setter to increase interest rates since the coronavirus pandemic began, surprising markets and many economists who had expected a delay. The central bank said at the time it had to act because it saw warning signs in underlying inflation pressures. Inflation, reported on Wednesday at a near 30-year high in December, will peak next quarter before starting to decline in the third quarter and won’t reach the BoE’s 2 percent target until the second quarter of next year, the poll found, adding pressure on the central bank to act. Median inflation forecasts for this quarter and next jumped to 5.2 percent …