2009.01.0806:56:00UTC+00Pound holds steady against most majors ahead of BoE rate decision

The Bank of England is scheduled to announce its interest rate decision at 7:00 am ET Thursday. Economists are expecting the Monetary Policy Committee of the Bank of England, led by Governor Mervyn King will slash the key interest rate by 50 basis points to 1.5%. The pound held steady against most major currencies ahead of the announcement. As of 6:55 am ET, the pound was worth 0.9004 against the euro, 138.10 versus the yen, 1.5068 against the dollar and 1.6614 per franc.

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