The emergency move came as it warned a sell-off of government bonds was a 'material risk' to financial stability.
The Bank of England has been forced to step in for a second day running to boost its emergency bond-buying scheme.
"Dysfunction in this market, and the prospect of self-reinforcing 'fire sale' dynamics pose a material risk to UK financial stability," it warned. The move came after its announcement on Monday that it would double the amount of bonds it would buy and chancellor Kwasi Kwarteng brought forward the date of his economic plan to balance the government's finances in an attempt to reassure investors.
In the wake of the September mini-budget, the pound slumped to a record low, government borrowing costs surged and the Bank of England was forced to step in and take emergency action after the dramatic market movements put some pension funds at risk of collapse.
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