Upcoming Global Central Bank Rate Decisions: March 16 - March 20 2026
Enduring Markets Sunday Newsletter
Welcome to this week’s Enduring Markets’ Sunday Newsletter, providing a look ahead at the crucial interest rate decisions from central banks across the globe.
We’ve compiled the schedule and a brief summary of the official press releases from each MPC’s most recent policy meetings.
Tuesday, March 17, 2026
Australia: Reserve Bank of Australia (RBA)
Previous Decision: Hike by 25 bps (February 3, 2026)
Key Rate: 3.85% (Cash Rate Target)
Summary: Breaking from the global easing trend, the RBA raised the cash rate to 3.85% in early February. The Board cited a material pickup in inflation during the second half of 2025 and resilient private demand that created greater capacity pressures. The RBA signaled a proactive stance against sticky price pressures, noting the “last mile” of disinflation is proving difficult.
Latest Press Release: Statement by the Monetary Policy Board
Schedule: The RBA is scheduled to announce its next decision on Tuesday, March 17.
Wednesday, March 18, 2026
Iceland: Central Bank of Iceland (SI)
Previous Decision: Hold (February 4, 2026)
Key Rate: 7.25% (Key Interest Rate)
Summary: The Monetary Policy Committee (MPC) kept the key rate steady, pausing after a surprise cut late last year. While economic activity has cooled, inflation rose to 5.2% in January 2026, driven in part by public levies. The Committee remains cautious, emphasizing that future rate cuts depend on clear evidence that inflation has fallen back to the 2.5% target.
Latest Press Release: Statement of the Monetary Policy Committee
Schedule: The Central Bank of Iceland will announce its interest rate decision on Wednesday, March 18.
Canada: Bank of Canada (BoC)
Previous Decision: Hold (January 28, 2026)
Key Rate: 2.25% (Overnight Rate)
Summary: The BoC maintained its overnight rate at 2.25%, warning of “unusually high” uncertainty surrounding US trade policy and the upcoming review of the CUSMA trade pact. While the domestic economy has evolved broadly in line with expectations, the Governing Council opted for a neutral, data-dependent approach to buffer against external geopolitical risks.
Latest Press Release: Bank of Canada maintains policy rate
Schedule: The Bank of Canada’s next scheduled rate announcement is Wednesday, March 18.
USA: Federal Reserve (FED)
Previous Decision: Hold (January 28, 2026)
Key Rate: 3.50% – 3.75% (Federal Funds Rate Target Range)
Summary: The FOMC kept the federal funds rate unchanged after executing three consecutive rate cuts in the latter half of 2025. Chair Powell emphasized solid economic activity and a stabilizing labor market. The pause allows policymakers to digest incoming data and assess the impact of rising oil prices and geopolitical tensions before making further adjustments.
Latest Press Release: Minutes of the Federal Open Market Committee
Schedule: The FOMC’s two-day meeting concludes with the policy statement and press conference on Wednesday, March 18.
Thursday, March 19, 2026
Japan: Bank of Japan (BOJ)
Previous Decision: Hold (January 23, 2026)
Key Rate: 0.75% (Uncollateralized Overnight Call Rate)
Summary: Having brought its benchmark rate up to 0.75% during previous tightening moves, the BOJ held steady at its first meeting of the year. Policymakers are closely evaluating the results of the spring wage negotiations (Shunto) to gauge if a virtuous cycle of wages and prices is firmly established. Markets are heavily pricing in a potential hike to 1.00% by the summer.
Latest Press Release: Monetary Policy Decisions
Schedule: The BOJ will announce its rate decision on Thursday, March 19.
Sweden: Sveriges Riksbank (SRB)
Previous Decision: Hold (January 29, 2026)
Key Rate: 1.75% (Policy Rate)
Summary: The Riksbank left the policy rate unchanged for the third consecutive meeting. The Executive Board assessed that the current rate level is successfully contributing to strengthening economic activity and stabilizing inflation around the target. However, they flagged heightened uncertainty stemming from US trade policy and the weakened Krona.
Latest Press Release: Policy rate unchanged at 1.75 per cent
Schedule: The Riksbank publishes its monetary policy decision and update on Thursday, March 19.
Switzerland: The Swiss National Bank (SNB)
Previous Decision: Hold (December 11, 2025)
Key Rate: 0.00% (SNB Policy Rate)
Summary: The SNB kept its policy rate at 0.00% to close out 2025. With inflation hovering near zero (and occasionally dipping into negative territory), the central bank faces pressure from a strong Swiss Franc. However, the SNB set a high bar for cutting rates back into negative territory, citing the burden it places on banks, savers, and pension funds.
Latest Press Release: Current interest rates and exchange rates
Schedule: The SNB’s quarterly monetary policy assessment is scheduled for Thursday, March 19.
Eurozone: European Central Bank (ECB)
Previous Decision: Hold (February 5, 2026)
Key Rate: 2.00% (Deposit Facility Rate)
Summary: The Governing Council kept its three key interest rates unchanged. The ECB reconfirmed that inflation is on track to stabilize at its 2% target over the medium term. The decision reflected a resilient European economy supported by low unemployment and past rate cuts, even as the global trade environment remains challenging.
Latest Press Release: Monetary policy decisions
Schedule: The ECB Governing Council will announce its interest rate decision on Thursday, March 19.
United Kingdom: Bank of England (BoE)
Previous Decision: Hold (February 5, 2026)
Key Rate: 3.75% (Bank Rate)
Summary: In a closely watched 5-4 split vote, the Monetary Policy Committee held the Bank Rate at 3.75%. The BoE paused to balance the risk of persistent inflation—which picked up slightly to 3.4% late last year—against weaker labor demand. Governor Andrew Bailey signaled that further cuts could be implemented this year if inflation falls back to the 2% target by spring, as expected.
Latest Press Release: Interest rates and Bank Rate: our latest decision
Schedule: The BoE MPC will announce its decision on Thursday, March 19.