UK Average Earnings incl. Bonus (3Mo/Yr) (Nov) 4.7% vs. Exp. 4.6% (Prev. 4.8%, Rev. 4.7%)

UK Average Earnings incl. Bonus (3Mo/Yr) (Nov) 4.7% vs. Exp. 4.6% (Prev. 4.8%, Rev. 4.7%)

The UK average earnings growth, including bonuses, came in at 4.7%, slightly exceeding expectations of 4.6%. While this output shows a marginal beat, it represents a slight decrease from the previous print of 4.8%, suggesting some cooling in wage growth. This could influence expectations around the Bank of England's policy decisions, particularly in the context of their inflation targets and rate path, potentially supporting a dovish stance if wage pressures continue to moderate.