Economic calendar: BoE rate decision in the spotlight

• European indices set for a higher opening

• Bank of England expects to deliver 25 bps rate hike

• Swiss National Bank to raise rates by 50 bps

Futures markets point to a higher opening of the European cash session, with DAX futures trading around 90 points above yesterday's cash close as traders digest the latest FED decision. Powell said he was not envisioning any rate cuts this year, as the central bank is still focused on getting inflation down. Meanwhile, Treasury Secretary Yellen said that the US government was not mulling a move to expand deposit insurance in the current banking crises, adding that determination would occur only on a case-by-case basis.

Big event of the day is the Bank of England monetary policy decision at 12:00 pm BST. Market expects BoE to deliver a 25 bps rate hike after a hotter-than-expected British inflation print for February. Earlier traders will get to hear from the Swiss National Bank, which is expected to raise its key rate by 50 bps as stability for Swiss banks somewhat returns.

08:30 am GMT - Swiss National Bank rate decision

12:00 pm GMT - Bank of England rate decision

12:30 pm GMT - US, jobless claims. Expected: 201k. Previous: 192k

2:00 pm GMT - US, new home sales for February. Expected: 650k. Previous: 670k

2:30 pm GMT - EIA natural gas storage. Expected: -75 bcf. Previous: -58 bcf

Central bankers' speeches

• 3:00 pm BST - ECB Lane

• 3:00 pm BST - BoE Mann