Monetary policy decisions from three major central banks are announced this week, and topping the bill is the Bank of England (BoE), where a surprisingly strong fourth-quarter growth reading could make the outcome a little more interesting.
Further down the card are policy announcements from the Reserve Banks of both Australia and New Zealand, where economic growth has recently benefitted from rising commodity prices.
Bank of England rate call
The BoE's chief policy remit is price stability, but since the financial crisis the central bank has taken on a dual mandate of tackling inflation while ensuring policy settings are also appropriate for generating economic growth.
For several months consumer price inflation has been above the Bank's official 2% target - peaking in November at 3.1% - but just one rate increase so far - a quarter-point hike in November to 0.5%.
The Bank accepts that growth risks are skewed to the downside and doesn't want to add to these risks. While higher inflation and low wages is putting pressure on consumer spending-led growth, higher interest rates could act as a further brake to those whose spending has been funded by credit.
But, recent news on the economy has been more encouraging as gross domestic product growth accelerated to 0.5% in the fourth quarter, and some believe that as inflation dips and wage growth picks up, consumer spending will contribute further to the economic recovery.
"Overall, we expect GDP growth of around 2% this year," says Andrew Kenningham at Capital Economics.
"The upshot is that we think the Bank of England will raise interest rates more than markets are expecting in the coming months."
With the markets currently only expecting a single hike this year, no-one expects a move at Thursday's meeting. However, any signs from BoE minutes that the monetary policy committee is becoming more hawkish should provide the pound more support.
Australia and New Zealand policy meetings
There's also little possibility of Australia's Reserve Bank (RBA) moving rates higher than the current 1.5% on Tuesday.
Inflation, despite higher commodity prices, remains below target, but the RBA won't want to appear too far behind the curve in case of a boom in industrial metals demand.
"We would need to see a shift lower in the unemployment rate, some traction on wages and perhaps a lower Aussie dollar to support our case for a start in the normalisation process to begin as soon as May," says Tony Morriss at Bank of America Merrill Lynch.
A confident and upbeat statement from the RBA would lend support to the A$.