Turning to Australia. The country's central bank has mapped out a steady course for rates.

The plan was drawn up during the bank's first meeting of 2018 this month. It indicates a pick-up in wage growth is necessary to ensure a much-needed recovery in inflation. Minutes of the Reserve Bank of Australia's February meeting show policy makers are more confident about the domestic outlook. That's thanks in part to an upturn in the global economy. The RBA also forecast gross domestic product growth to average "a bit above 3 percent" over the next couple of years.