The Governor invited members to vote on the proposition that the Bank’s repo rate should be maintained at 5.25%. Eight members of the Committee (the Governor, Mervyn King, David Clementi, Christopher Allsopp, Kate Barker, Charles Bean, Stephen Nickell and Ian Plenderleith) voted for the proposition. Sushil Wadhwani voted against, preferring a reduction in the repo rate of 25 basis points.
Published on
18 July 2001
Minutes of the meeting