Yesterday’s release saw sharp declines in house prices with Greater London dropping by -6.0%.

Mortgage rates are now closer to 6% after lenders resumed their activities following the market turmoil that shook UK gilts last week.

The BoE released a statement that it is “studying patterns of demand” and will “adjust any of the other parameters of the auction”

Kwasi Kwarteng tweeted: “We get it, and we have listened.” In response to the market upheaval that happened last week.

Here are this week’s highlights in the UK economy.

Critics point out that the scheduled meeting is a tardy effort to calm the turmoil that shook the markets last Monday.