The Governor invited members of the Committee to vote on the proposition that the Bank’s repo rate be left unchanged this month. Five members of the Committee (the Governor, David Clementi, Charles Goodhart, DeAnne Julius and Ian Plenderleith) voted for the proposition and three (Alan Budd, Willem Buiter and Mervyn King) voted against, preferring an immediate increase in interest rates.
Published on
13 May 1998
Minutes of the meeting