The three main central banks, including the Federal Reserve, the Bank of Japan and the Bank of England, will hold policy meetings this week, and the outcome is expected to be at least different. The Bank of Japan will announce its first decision on Wednesday, and analysts are currently divided on whether the central bank will raise its policy rate from its current 0% -0.1% or signal an imminent rate hike. The Federal Reserve is due to announce its interest rate decision in the early hours of Thursday in Beijing time. While few expect the Fed to start cutting interest rates immediately, almost everyone expects the central bank to indicate that it will cut rates at its next meeting in mid-September. With the Bank of England due to announce its policy decision early on Thursday afternoon, economists and interest rate markets are roughly split on whether the central bank will ease policy for the first time in years. More certainly, even if the Bank does cut rates, it could signal that it is taking a very cautious approach, signalling to markets that a series of easing policies should not be expected.