*BoE: Depreciation of sterling is adding to imported cost pressures, but pay pressures continue to wane

Pound ticks down against majors as BoE trims target rate to 0.50%

*BoE: Inflation is likely to fall below the 2% target by the second half of the year

*BoE: Credit conditions faced by companies and households remain tight

ECB Expected to Cut Key Rate to Record Low