The Governor invited the Committee to vote on the proposition that Bank Rate should be maintained at 5.0%. Seven members of the Committee (the Governor, Charles Bean, John Gieve, Kate Barker, Spencer Dale, Andrew Sentance and Paul Tucker) voted in favour of the proposition, and two (Tim Besley and David Blanchflower) voted against. Tim Besley preferred an increase of 25 basis points, and David Blanchflower preferred a reduction of 25 basis points.
Published on
20 August 2008
Minutes of the meeting