0853 GMT - The main driver behind a lower-than-expected U.K. February inflation print came from clothing and footwear, although this won't be a game-changer for monetary policy, say analysts at RBC Capital Markets. With the data largely in line with the Bank of England's February projections, the central bank will likely stick to its plans for only gradual reductions in interest rates, they say in a note. "We don't think that there is sufficient fresh information in it to shift the monetary policy committee from its gradual mantra." The statistics office said retailers maintained discounting into February, the analysts say. February annual inflation was 2.8% year-on-year, below January's 3.0% and the 2.9% consensus forecast in The Wall Street Journal's poll. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 04:53 ET (08:53 GMT)
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