MUFG Research discusses the expectations for the major central banks decisions in March.

" Eight of the G10 central banks will announce monetary policy decisions in March (RBNZ and Riksbank will not) and some of those decisions are reasonably predictable – the ECB +50bps; Fed +25bps; RBA +25bps; Norges Bank +25bps and BoC unchanged," MUFG notes. 

"There has been some speculation about another YCC change from the BoJ but we suspect policy will remain unchanged with incoming Governor Ueda left to tackle changing the YCC framework later in the year. The BoE will also probably hike 25bps in March although any surprises to the downside on CPI and wages ahead of that meeting could sway the BoE to remain on hold. The Fed will hike for sure and will be accompanied by strong communication of more to come," MUFG adds.