The Bank of England on Thursday decided to hold interest rates at 0.75% by a 7-2 vote. Futures prices had been divided on whether the Bank of England would cut or not.

While surveys of businesses had picked up since the Dec. 12 election, recent economic data had come in on the weaker side. "Policy may need to reinforce the expected recovery in UK GDP growth should the more positive signals from recent indicators of global and domestic activity not be sustained or should indicators of domestic prices remain relatively weak," the Bank of England said.

The pound GBPUSD, gained ground after the decision.

Source: Marketwatch