BoE predicts budget measures will lower inflation, and denies uncertainty caused unusual bond market volatility – as it happened

Rolling coverage of the latest economic and financial news, as Bank of England policymakers testify to MPs on the Treasury committee

Teresa Ribera, the EC's executive vice-president for Clean, Just and Competitive Transition, has explained why the Commission is probing Google over its artificial intelligence activities:

AI is bringing remarkable innovation and many benefits for people and businesses across Europe, but this progress cannot come at the expense of the principles at the heart of our societies,"

This is why we are investigating whether Google may have imposed unfair terms and conditions on publishers and content creators, while placing rival AI models developers at a disadvantage, in breach of EU competition rules."