The Federal Reserve, ECB and Bank of England will have meeting this week. Only the Fed is expected to announce a change, with another 25 basis point rate hike all but priced in. That will take the number of hikes this year to three, as per its forecast towards the back end of last year, which markets were initially behind the curve on. The Fed projecting three more and markets only anticipating one or two. The most interesting thing on Wednesday is likely to be what the central bank says on this and whether the dot plot continues to forecast three hikes. With so many unknowns – vacant positions on FOMC and tax reform to name a couple – expectations are likely to change over the next six months, impacting how many rate hikes we actually get. The BoE and ECB meetings are likely to be a more uninteresting affair, with both central banks having only recently tightened monetary policy and in no rush to do so again. That said, the ECB press conference can often be a volatile period for markets and traders will be keen to know what the next steps are beyond quantitative easing.