The Governor invited members to vote on the proposition that the Bank’s repo rate should be reduced by 50 basis points to 4.0%. Eight members of the Committee (the Governor, Mervyn King, David Clementi, Christopher Allsopp, Kate Barker, Charles Bean, Stephen Nickell and Sushil Wadhwani) voted in favour. Ian Plenderleith voted against, preferring a reduction in the repo rate of 25 basis points.
Published on
21 November 2001
Minutes of the meeting