The Governor invited members to vote on the proposition that the Bank’s repo rate should be maintained at 4.0%. Seven members of the committee (the Governor, David Clementi, Christopher Allsopp, Kate Barker, Charles Bean, Stephen Nickell and Paul Tucker) voted in favour. Mervyn King voted against, preferring an increase in the repo rate of 25 basis points.
Published on
19 June 2002
Minutes of the meeting