This week's actions are a fresh bid to soothe the bond markets in particular, as state borrowing—and its costs—soar following UK finance minister Kwasi Kwarteng's debt-fuelled mini-budget last month. The poor market response to it saw UK bond yields spike and the pound tumble to a record low against the dollar, prompting the BoE to step in over recent weeks vowing to protect the nation's financial stability
The Bank of England struggled Tuesday to reassure investors after unveiling yet more measures to calm markets rocked by the British government's tax-cutting mini-budget, as the International Monetary Fund renewed warnings about their divergent policies.