The pound weakened after Bank of England policy maker Adam Posen said the central bank should resume its asset-purchase program to boost the economy.

Sterling slipped 0.2 percent to $1.5799 as of 2:04 p.m. in London, and depreciated 0.4 percent to 85.36 pence per euro.

“There remains a significant gap between what the economy could be producing at full employment and it currently produces,” Posen said in a speech today in Hull, England.

“Monetary policy should continue to be aggressive about promoting recovery, and, subject to further debate, I think further easing should be undertaken.”

Gilts rose, sending the yield on the 10-year bond down 2 basis points to 2.95 percent.