Bank of England: UK households are £900 worse off since Brexit vote – business live

All the day’s economic and financial news, as four Bank of England policymakers are questioned by the UK’s Treasury committeeCarney: Household income £900 lower than you’d expectCarney: Snow hurt UK economy (whatever the ONS says)MPC policymaker Gertjan Vlieghe predicts up to 2 rate rises per year.Public forecasts were better than expectedIntroduction: Bank of England faces the Treasury Committee 2.50pm BST Hopes for a positive outcome from the US-China trade talks, US markets have edged higher in early trading.With technology stocks benefiting from the prospect that the two countries can avoid a damaging trade war, the Dow Jones Industrial Average is up 11 points or 0.04% while the S&P 500 opened 0.2% higher and the Nasdaq Composite was 0.36% better. 2.48pm BST Here’s our story on the Bank of England committee hearing:British households are more than £900 worse off following the vote to leave the European Union, according to the governor of the Bank of England. Comparing forecasts made by Threadneedle Street before the referendum, prepared on the basis of a remain vote, Mark Carney told MPs that household incomes were now significantly lower than expected. Related: Brexit vote has cost each UK household £900, says Mark Carney Continue reading…
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