mpc.theyserveforyou.com

mpc: 9 household expectations and business confidence, which sometimes occurred rather sharply at such junctures. In particular, investment, in the UK and elsewhere, could fall sharply if demand ­ particularly for `high-tech' products ­ grew less strongly than had been expected. A repo rate of 6% probably remained slightly contractionary. That was appropriate for the moment but the downside risks needed to be watched carefully. 31 The Governor invited members to vote on the proposition that the Bank's repo rate be maintained at 6.0%. The Committee voted unanimously in favour of the proposition. The following members of the Committee were present: Eddie George, GovernorMervyn King, Deputy Governor responsible for monetary policyDavid Clementi, Deputy Governor responsible for financial stabilityChristopher AllsoppCharles BeanDeAnne JuliusStephen NickellIan PlenderleithSushil Wadhwani Gus O'Donnell was present as the Treasury representative.