The week ahead will see the central bank meetings continuing. This includes the RBA, the RBNZ and the Bank of England.

All three central banks are expected to keep interest rates unchanged this week.

On the economic front, the data from the U.S. will see the ISM’s non-manufacturing PMI.

The UK will be releasing the PMI numbers while New Zealand will be reporting on the quarterly unemployment data that comes out ahead of the RBNZ’s meeting.

BoE expected to hold interest rates steady

The Bank of England will be meeting this Thursday as it decides on interest rates.

The BoE had last hiked rates by 25 basis points at the November meeting last year. The rate hike came amid weakness in the economy as inflation continued to outpace wage growth.

However, in December, consumer prices showed signs of easing as the UK’s inflation rate fell to 3.0% on an annual basis. This was after inflation peaked 3.1% in November.

Given the short time since the November rate hike, BoE officials are expected to take a cautious stand as rates are expected to remain steady.

The markets are expecting to see the next rate hike from the Bank of England coming in only in the second half of next year.

Consumer prices in the UK are expected to remain above the BoE’s 2% inflation target rate however.

Recently, the BoE Governor Carney said that monetary policy would be dependent on the outcome of the Brexit talks which continues to remain a major uncertainty for the economy.