As expected, the Bank of England retained its bank rate at 0.50 percent and asset purchase programme at GBP 435 billion. Following the decision, the pound advanced against its major counterparts.

The pound was trading at 145.85 against the yen, 1.3143 against the franc, 1.3197 against the greenback and 0.8748 against the euro around 7:02 am ET.

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