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 895 billion.

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

The pound was trading at 1.3878 against the greenback, 151.41 against the yen, 1.2607 against the franc and 0.8684 against the euro around 7:04 am ET.