The trumpet call for BOE intervention wouldn't have been needed if they'd acted sooner on raising interest rates to counter rising inflation earlier in the year (now at 11.5%). BOE and Andrew Bailey have been asleep at the wheel. They are now playing catch-up, the consequences of which have spooked the markets, it's not just down to tax cuts which don't take effect until next year anyway. The world is having to deal with inflation, not just UK.