[KPMG: Weak Wage Growth in the UK Strengthens the Case for the Bank of England to Hold Rates Steady] Jin10 News, July 21 – Yael Selfin, Chief Economist at KPMG UK, stated that weak wage growth in the UK strengthens the case for the Bank of England to hold interest rates steady. She noted that in the three months ending in May, overall wage growth excluding bonuses remained unchanged at 3.4%, with little evidence that the recent rise in energy prices has been reflected in wage settlements. As sluggish hiring activity continues to weigh on workers' bargaining power, private sector wage growth is currently below the level consistent with the Bank of England's 2% target. Selfin said: 'We expect the Bank of England to hold rates steady at next week's meeting. In the coming months, developments in the energy market may play a greater role in shaping the outlook for interest rates.'