The Bank of England has announced that it will intervene in an attempt to calm markets after they were spooked by last week’s mini-Budget by the Liz Truss government.
The central bank said it was launching an emergency programme to buy up government bonds in a bid to stave off a “material risk to UK financial stability”.
It comes a day after chancellor Kwasi Kwarteng vowed to push on with the government’s radical borrowing-fuelled £45 billion tax cut spree, despite growing calls to change course.
