As expected, the Bank of England kept its interest rate unchanged at a record low of 0.10 percent and the quantitative easing programme at GBP 875 billion.

Following the decision, the pound dropped against its major counterparts.

The pound was trading at 152.02 against the yen, 0.8568 against the euro, 1.2924 against the franc and 1.3945 against the greenback around 8:04 am ET.