The Governor invited members to vote on the proposition that the Bank’s repo rate should be reduced by 25 basis points to 4.50%. Eight members of the Committee (the Governor, Mervyn King, David Clementi, Christopher Allsopp, Kate Barker, Charles Bean, Stephen Nickell and Ian Plenderleith) voted in favour. Sushil Wadhwani voted against, preferring a reduction in the repo rate of 50 basis points.
Published on
17 October 2001
Minutes of the meeting