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