The interest rate decision and the quarterly Inflation Report from the Bank of England is due at 7:00 am ET Thursday. The bank is expected to keep its key rate at 0.50 percent and quantitative easing at GBP 375 billion.
Ahead of the announcement, the pound declined against its major rivals.
The pound was worth 1.4593 against the greenback, 171.71 against the yen, 1.4612 against the franc and 0.7652 against the euro as of 6:55 am ET.
The material has been provided by InstaForex Company – www.instaforex.com