Australia’s wage growth held steady in the June quarter, with the Wage Price Index rising 0.8% from the prior three months and 3.4% from a year earlier, Australian Bureau of Statistics data showed on Wednesday. The quarterly result matched economists’ forecasts, while the annual pace came in a touch above the Reserve Bank of Australia’s 3.3% projection. Public-sector wages climbed 3.7% year on year, reflecting back-dated pay settlements, and private-sector pay rose 3.4%. Separate figures indicated momentum is returning to the housing market. The total value of home-loan commitments increased 2.0% quarter on quarter after a 1.6% fall in the March period, as owner-occupier lending rebounded 2.4% and investor lending advanced 1.4%. Persistent wage growth, combined with improving housing finance and sluggish productivity, complicates the RBA’s task of containing labor-cost pressures. The central bank cut its cash rate to 3.6% earlier this week, its third reduction this year, but policymakers have signalled a cautious stance on further easing until wage and productivity trends align more closely.