UK Average Earnings excl. Bonus (3Mo/Yr) (May) 3.4% vs. Exp. 3.4% (Prev. 3.4%)

The UK average earnings growth, excluding bonuses, has come in at 3.4%, matching expectations, but crucially failing to show any upward momentum from the previous 3.4%. This steady reading suggests that wage growth remains subdued, which may influence the Bank of England's monetary policy stance, particularly in terms of inflationary pressures and interest rates.