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.
Published on
17 July 2002
Minutes of the meeting