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mpc: 12 market data had, if anything, been encouraging. The outlook for domestic demand growth might have strengthened slightly but sterling had continued to appreciate over the month, which would restrain activity and inflation. In terms of the forecast, if sterling remained at its current level and/or the downward pressures on prices from stronger competition and new technology were greater than in the best collective assumption, then inflation would continue to undershoot the target for the next two years. A further increase in the repo rate would increase this undershoot and would also create a short-term risk of adding to sterling's strength. 42 The Governor invited members of the Committee to vote on the proposition that the Bank's repo rate be increased by 25 basis points to 6.0%. Eight members of the Committee (the Governor, Mervyn King, David Clementi, Charles Goodhart, Willem Buiter, Ian Plenderleith, John Vickers and Sushil Wadhwani) voted for the proposition. DeAnne Julius voted against, preferring to maintain interest rates at 5.75%. 43 The following members of the Committee were present: Eddie George, GovernorMervyn King, Deputy Governor responsible for monetary policyDavid Clementi, Deputy Governor responsible for financial stabilityWillem BuiterCharles GoodhartDeAnne JuliusIan PlenderleithJohn VickersSushil Wadhwani Gus O'Donnell was present as the Treasury representative.