The Bank of England is set to announce its decision on interest rates at 7.00 am ET. The central bank is widely expected to hold the interest rate at a historic low of 0.5% and to continue its GBP 200 billion worth quantitative easing measures.
The UK currency stabilized against its major rivals ahead of the rate. As of 6:55 am ET, the pound was worth 144.13 against the yen, 1.6315 versus the US dollar, 1.6735 per franc and 0.9038 per euro.
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