Just five days after the former chancellor unveiled his mini-budget on 23 September, the Bank took unprecedented action to purchase long-dated UK government bonds, known as gilts, that are effectively government IOUs.
Bonds are a principal way countries raise funds.
Due to a lack of market confidence in the UK economy, the interest rate on these bonds had reached highs not seen since the financial crash of 2008.
The result was government borrowing was more expensive and holding on to bonds became more expensive.
