Most economists expect no changes, but analysts are expecting some moves in foreign exchange markets, as the Fed meeting follows so closely.
"The BOJ's decision to cut rates in a 5-4 vote in the midst of market turmoil six weeks ago back-fired but the backdrop is different today. The Nikkei has bounced 16 percent from its mid-February lows, and 10-year Treasury yields are 30 basis points higher," said global macro strategist at Societe Generale, Kit Juckes.
"We don't expect any action from the BOJ when their meeting ends tomorrow, but even so, the likelihood of a hawkish tone from the FOMC on Wednesday and the bright underlying tone to risk sentiment makes long dollar/yen look like a good risk-reward trade here," he added.
Thursday brings the latest policy announcement from the Bank of England, where the Bank Rate will likely remain unchanged at 0.5 percent but a dovish tone from the central bank is expected nonetheless.
"Following the wide ranging package of measures from the ECB, Thursday's MPC decision is set to be far less exciting, with policy certain to remain unchanged, with Bank rate at 0.5 percent and the level of Quantitative Easing at £375 billion ($537 billion). The minutes should also show a unanimous decision for no change, given Ian McCafferty dropped his call for tighter policy at February's meeting," said chief economist at Investec, Philip Shaw.