The Governor invited members to vote on the proposition that the Bank’s repo rate be maintained at 5.5%. Six members of the Committee (the Governor, David Clementi, Charles Goodhart, DeAnne Julius, Ian Plenderleith and Sushil Wadhwani) voted for the proposition. Mervyn King, Willem Buiter and John Vickers voted against, preferring a rise in rates of 25 basis points.
Published on
22 December 1999
Minutes of the meeting