0844 GMT - The latest inflation data from the U.K. are unlikely to significantly alter to odds of a rate cut in March, says James Smith at ING in a note. The figures were a mixed bag, he says. Food inflation fell sharply, which should calm nerves over upside risks to price growth. But services inflation proved stickier than expected. None of this should tip the scales for the Bank of England, with a weak jobs market and falling wage growth a more important consideration right now, the analyst says. Still, inflation will come back into focus in April, when a projected decline should ease concerns over the inflation outlook. "We continue to expect rate cuts in March and June--and we don't rule out more," Smith says. (don.forbes@wsj.com)

(END) Dow Jones Newswires

February 18, 2026 03:44 ET (08:44 GMT)

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