The Governor invited members to vote on the proposition that the Bank’s repo rate should be reduced by 25 basis points to 5.5%. Six members of the Committee (the Governor, Mervyn King, David Clementi, Christopher Allsopp, Charles Bean and StephenNickell) voted for the proposition. DeAnne Julius, Ian Plenderleith and Sushil Wadhwani voted against, preferring a reduction in the repo rate of 50 basis points.
Published on
18 April 2001
Minutes of the meeting