Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in Fed battle; US growth revised higher amid AI boom – as it happened

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces economic doom loop'

• People in the UK: how have you been affected by the rise in food prices?

The FCA's investigation into Drax comes five months after the company's former top lobbyist accused it of misleading the public, government and its regulator" over its sourcing of wood for biomass pellets.

In a claim for unfair dismissal, Rowaa Ahmar, Drax's former head of public affairs, said evidence suggested Drax was unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood".