The Governor invited members to vote on the proposition that the repo rate should be maintained at 3.75%. Five members (the Governor, Mervyn King, Andrew Large, Charles Bean and Paul Tucker) voted in favour. Four members (Christopher Allsopp, Kate Barker, Marian Bell and Stephen Nickell) voted against, preferring a reduction in the repo rate of 25 basis points.
Published on
21 May 2003
Minutes of the meeting