Minutes of the Monetary Policy Committee Meeting held on 7 and 8 January 2009

The Governor invited the Committee to vote on the proposition that Bank Rate should be reduced by 50 basis points to 1.5%. 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. 

Minutes of the meeting