Brits ‘need to accept’ they’re worse off and stop pushing wages and prices higher, says BoE chief economist – as it happened

Huw Pill says someone in UK needs to accept that they're worse off and stop trying to maintain their real spending power through higher wages or prices

• Food for thought: why isn't the UK government focusing on soaring grocery prices?

The world's top central banks are ending the emergency action they took last month to keep dollars flowing through the global financial system.

The Bank of England, Bank of Japan, the European Central Bank, the Swiss National Bank have decided to end the daily dollar-swap lines they set up with the Federal Reserve to reassure markets after the collapse of Silicon Valley Bank.