Minutes of the Monetary Policy Committee Meeting held on 9 and 10 April 2008

The Governor invited the Committee to vote on the proposition that Bank Rate should be reduced by 25 basis points to 5.0%. Six members of the Committee (the Governor, Rachel Lomax, John Gieve, Kate Barker, Charles Bean and Paul Tucker) voted in favour of the proposition, and three (Tim Besley, David Blanchflower and Andrew Sentance) voted against. Tim Besley and Andrew Sentance preferred to maintain Bank Rate at 5.25%, and David Blanchflower preferred an immediate
reduction of 50 basis points to 4.75%. 

Minutes of the meeting