The Governor invited members of the Committee to vote on the proposition that the Bank’s repo rate be cut by 0.50% to 5.5%. Eight members of the Committee (the Governor, Mervyn King, David Clementi, Alan Budd, Charles Goodhart, DeAnne Julius, Ian Plenderleith and John Vickers) voted for the proposition. Willem Buiter voted against, preferring a cut of 0.75%.
Published on
17 February 1999
Minutes of the meeting