The Governor invited the Committee to vote on the proposition that Bank Rate should be reduced by 50 basis points to 1.0%. Eight members of the Committee (the Governor, Charles Bean, John Gieve, Kate Barker, Tim Besley, Spencer Dale, Andrew Sentance and Paul Tucker) voted in favour of the proposition. David Blanchflower voted against, preferring a reduction of 100 basis points.
Published on
18 February 2009
Minutes of the meeting