0955 GMT - The slowing of U.K. inflation to 2.8% in February from 3% in January could be welcomed by the Bank of England, says EFG Asset Management's Joaquin Thul in a note. "Although markets are currently pricing a rate cut at the June MPC meeting, the latest inflation numbers could lead us to expect that the next rate cut could come as soon as the May 8 meeting," the economist says. Clothing, footwear, housing and household services were the main drivers of February's fall in inflation. Money markets price in a 54% probability of a BOE rate cut in May and an 85% chance of a reduction in June, LSEG data show. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

March 26, 2025 05:55 ET (09:55 GMT)

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