UK Wage Growth Holds Firm at 3.5% Amid Energy Price Uncertainty
UK wage growth remains steady at 3.5% as policymakers assess domestic inflation pressure.
The Bank of England faces uncertainty over the inflation outlook due to higher energy prices caused by the Iran war, which could impede a slowdown in wage growth.
Investors see a one-in-three chance of a BoE rate hike on Thursday, with nearly certain additional increases projected for November and December.