As the Bank of England's mixed messages have spooked the markets, Liz Truss' contradictory

statements in Parliament have spooked just about everyone.

So now it will be trying to make sense of the economic chaos.

And I'll be speaking to James Meadeway about the economics of Dalia Gabrielle, about the

politics of it, and we're also going to talk about long Covid.

It's been another incredibly dramatic 48 hours when it comes to the UK economy.

That has principally been brought on by an announcement made yesterday by the Governor

of the Bank of England in Washington.

The statement concerned the bank's programme of buying UK government bonds to shore up

their price, which had been in place since Quarteng's disastrous mini-budget two weeks

ago.

The markets were expecting news on when the scheme would come to an end, and this is what

Andrew Bailey said.

We as the Bank of England, I know not all central banks like this, have never bought

index-linked guilt in our market operations, but we realised that for financial stability

purposes we had to do it, because the pension funds aren't actually in us if those things.

So that's what we announced at the opening in London this morning.

We did an auction today, we did two auctions today, one for the conventionals, another

one, and one for index-linked guilt.

Things seem calmer again today, we'll see.

The last thing I'd say to him is that a lot of people are saying we've announced that

we'll be out by the end of this week, we think the rebalancing must be done, and my message

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