The Governor invited the Committee to vote on the proposition that the Bank’s repo rate be reduced by 25 basis points to 5.0%. Eight members of the Committee (the Governor, David Clementi, Willem Buiter, Charles Goodhart, DeAnne Julius, Ian Plenderleith, John Vickers and Sushil Wadhwani) voted for the proposition. Mervyn King voted against, preferring to maintain the Bank’s repo rate at 5.25%.
Published on
23 June 1999
Minutes of the meeting