The governor of the Bank of England made the comments after turmoil on bond markets this week saw UK borrowing costs pushed to a 28-year high.

Andy Burnham spent his first Prime Minister's Questions trying to calm jittery bond markets after another rise in government borrowing costs

Yields on 30-year UK bonds, known as gilts, climbed above 5.92 per cent, the highest level since 1998, while 10-year gilt yields rose above 5.29 per cent, the highest since 2008.