The Governor invited the Committee to vote on the proposition that Bank Rate should be reduced by 25 basis points to 5.25%. Eight members of the Committee (the Governor, Rachel Lomax, John Gieve, Kate Barker, Charles Bean, Tim Besley, Andrew Sentance and Paul Tucker) voted in favour of the proposition. David Blanchflower voted against, preferring a reduction in Bank Rate of 50 basis points.
Published on
20 February 2008
Minutes of the meeting