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At 7.00 am ET Thursday, the Bank of England is set to announce its rate decision. The bank is expected to hold its bank rate at 0.50 percent and asset purchase programme at GBP 435 billion.

Ahead of the decision, the pound held steady against its major counterparts.

The pound was worth 145.12 against the yen, 1.3084 against the franc, 1.3128 against the greenback and 0.8790 against the euro as of 6:55 am ET.