The Bank of England announces its monetary policy decision at 7:00 am ET Thursday. Economist expect the benchmark rate to be kept unchanged at 0.75 percent and maintain the asset purchase target at GBP 435 billion.

Ahead of the decision, the pound advanced against its major rivals.

The pound was worth 145.55 against the yen, 1.2656 against the franc, 1.3052 against the greenback and 0.8905 against the euro as of 6:55 am ET.

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