News Release
Bank of England Reduces Interest Rates by 0.25% to 5.0%
10 June 1999
The Bank of England's Monetary Policy Committee today voted to reduce the Bank's repo rate by 0.25% to 5.0%.
The Committee considered recent economic developments against the background of the May Inflation Report. Taking into account all the evidence on the inflation outlook, the Committee judged that it is now more likely that inflation will undershoot the 2 ½% target, and therefore voted to reduce the Bank's repo rate by 0.25%.
The minutes of the meeting will be published at 9.30am on Wednesday 23 June.
Note for Editors
The previous change in interest rates was a reduction of 0.25% to 5.25% on 8 April 1999.
