London, Oct 11 (TIWN) The Bank of England has been forced to unveil more measures aimed at calming markets, warning of a "material risk to UK financial stability".

The move is in response to soaring UK bond yields and after the pound tumbled to a record low against the dollar since the government of new Prime Minister Liz Truss unveiled debt-fuelled tax cuts in a budget last month.  A day after it launched a temporary facility aimed at easing liquidity pressures, the central bank Tuesday said it was widening the scope of daily purchases of UK government bonds, or gilts, until Friday.