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UK small- and mid-cap equities outlook 2026: FTSE 250 Growth, Inflation & Political Risks | Macro Moments. In this episode of Macro Moments, Richard discusses the outlook for UK mid-cap equities and the FTSE 250 heading into 2026. After a slightly weaker 2025 compared with the FTSE 100, mid caps are positioned to benefit from improving macro conditions, including potential economic growth, easing inflation, and gradually lower interest rates. The conversation highlights key portfolio themes, including defensive growth stocks, cyclical recovery plays, and structural growth opportunities across domestic and international sectors. Richard also addresses political risks under the Labour government, upcoming local elections, and how these factors may impact investor sentiment. Overall, the FTSE 250 offers a mix of strong fundamentals, quality companies, and attractive valuations that could drive double-digit returns in 2026. UK mid caps, FTSE 250, UK equities, Macro Moments, Franklin Templeton, mid-cap outlook 2026, UK stock market, UK investing, domestic growth stocks, cyclical recovery UK, structural growth UK, inflation UK, interest rates UK, political risk UK, Premier Foods, Bodycote, Computer Centre, IT services stocks, undervalued UK stocks, active investing, equity portfolio, UK market outlook