Two members of the public were killed in a terror attack in central London, with the suspect shot dead by armed police on London Bridge, Met Police have said.

The incident happened at 1.58pm on Friday afternoon, (November 28) unfolding on London Bridge in broad daylight.

Several people were injured, with emergency services later confirming that two members of the public were killed.

Terrified eye-witnesses described 'real panic setting in' at the scene just a few hundred yards from where 11 people were killed in the Borough Market attack two years ago.

In the aftermath of the incident, the Metropolitan Police's Assistant Commissioner for Specialist Operations Neil Basu offered a statement confirming that armed police had shot and killed the primary suspect.

"I can confirm that at approximately 2pm today, Friday, 29 November, police were called to a stabbing at a premises near to London Bridge, EC1.

"Emergency services attended, including officers from the City of London Police and the Metropolitan Police.

"A male suspect was shot by specialist armed officers from City of London Police and I can confirm that this suspect died at the scene," Mr Basu said.

"A number of other people received injuries during the incident and as soon as we can provide further updates on their condition, we will. Our heartfelt sympathies go out to those anxiously awaiting news from loved ones.

The Assistant Commissioner for Specialist Operations also confirmed that the incident, which was initially reported as a stabbing, had been declared as a terror attack.

"I am now in a position to confirm that it has been declared a terrorist incident," he said.

"Officers from the Met’s Counter Terrorism Command are now leading this investigation.

"I must stress, however, that we retain an open mind as to any motive. It would not be appropriate to speculate further at this time."

Several members of the public reportedly intervened during the attack to help police prevent the suspect from hurting more people. 

London Mayor of London Sadiq Khan hailed their "breathtaking heroism" while Prime Minister Boris Johnson praised their "extraordinary bravery".

Meanwhile, Mr Basu commented on speculation that the slain suspect had been wearing an explosive device.

"Due to reports that the suspect may have had an explosive device, specialist officers also attended the scene and wide cordons are in place to ensure there remains no further danger to the public.

"However, I can confirm that at this time, we believe a device that was strapped to the body of the suspect is a hoax explosive device," he said.

"Officers continue to carry out meticulous searches in the area to ensure there is no outstanding threat to the public.

"Those extensive cordons will remain in place for a considerable time and I would ask the public please continue to avoid the area.

"Public safety is obviously our top priority and we will be enhancing police patrols in the City and across London.

"I would ask anyone with information, image or footage of the incident that this be shared with our investigation team to do so on the UK Police Image appeal website. I would also ask the public to continue to remain vigilant and report any concerns they have to police."