The salary increase for UK businesses from February to April remained steady at 3.5%, despite the minimum wage hike.

A survey showed that, despite the increase in the minimum wage standard in the UK, the salary growth of UK businesses remained stable in the three months leading up to April. The salary research firm IDR stated on Monday that the median salary growth of large employers during the period of February to April was 3.5%, the same as the previous period from January to March. The market widely expects the Bank of England to maintain interest rates at 3.75% next week. The bank is closely monitoring salary growth to assess inflationary pressures. Investors believe that the UK economy is particularly vulnerable to increases in energy prices as a result of the conflict in Iran.