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MINUTES OF THE MONETARY POLICY COMMITTEE MEETING HELD ON 4-5 APRIL 2007

1 At the start of the meeting, the Committee noted a letter from the Chancellor (attached as an annex) setting out the remit for the Committee over the following year, in accordance with Section 12 of the Bank of England Act. Before turning to its immediate policy decision, the Committee discussed developments in financial markets; the international economy; money, credit, demand and output; and supply, costs and prices.