According to data reported by Jinshi, MHA economic advisor Joe Nellis stated that wage growth in the UK continues to slow down, and the central bank may cut interest rates next month. For the three months ending in May, average wage growth was 5%, down from the previous 5.3%. The unemployment rate has risen to its highest level since 2021, indicating cracks in the labor market. Nellis pointed out that as inflationary pressures ease, the Bank of England's Monetary Policy Committee may vote to cut interest rates at its meeting on August 7.