Minutes of the MPC Meeting held on 1 and 2 August 2001

The Governor invited the Committee to vote on the proposition that the Bank’s repo rate should be reduced by 25 basis points to 5.0%. Six members of the Committee (the Governor, Christopher Allsopp, Kate Barker, Charles Bean, Stephen Nickell and Sushil Wadhwani) voted for the proposition. Mervyn King, David Clementi and Ian Plenderleith voted against, preferring to maintain the repo rate at 5.25%.

Minutes of the meeting