Sterling hits lowest this week after BoE meeting

Sterling fell on Thursday to its lowest this week after Bank of England decided to hold interest rates at record lows and keep the policy steady. 

GBP/USD last traded at 1.2884, down from the opening of 1.2932, with a session-high at 1.2951, and a low at 1.2852. 

BoE warned from inflation and slow growth as a consequence of Britain's exit from the EU, with growth forecasts slashed for 2017 to 1.9% from 2%, while inflation forecasts rose to 2.7% from 2.4%. 

On the other hand, the BoE said living standards will decline this year due to Brexit, with the pound hurting today from dollar's strength following strong U.S. data. 

Bank of England warned from increasing interest rates quicker than expected in case inflation continued to rise.