As expected, the Bank of England kept its interest rate at a record low of 0.25 percent and maintained asset purchase programme at GBP 435 billion.

Following the decision, the pound slipped against the other major currencies.

The pound was trading at 1.2895 against the greenback, 147.00 against the yen, 0.8423 against the euro and 1.2981 against the franc around 7:01 am ET.

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