As expected, the Bank of England raised its key rate by 25 basis points to 5.25 percent from 5 percent. Following the decision, the pound fell against its major counterparts.
The pound was trading at 1.2636 against the greenback, 180.71 against the yen, 1.1073 against the franc and 0.8647 against the euro around 7:04 am ET.
