Minutes of the MPC Meeting held on 3 and 4 July 2002

The MPC voted 8 - 1 to maintain Bank Rate at 4.0%.
Published on 17 July 2002

The Governor invited members to vote on the proposition that the Bank’s repo rate should be maintained at 4.0%. Eight members of the Committee (The Governor, David Clementi, Christopher Allsopp, Kate Barker, Charles Bean, Marian Bell, Stephen Nickell and Paul Tucker) voted in favour. Mervyn King voted against, preferring a rise in the repo rate of 25 basis points.

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