LONDON, March 17 (Reuters) - Euro zone government bond

yields were little changed on Tuesday as markets took a breather

even as oil prices rose again, ahead of a few days chock-full of

central bank decisions.

Brent crude prices were up about 3% on Tuesday as

the Strait of Hormuz remained almost fully closed to shipping,

fuelling further worries about higher energy costs and rising

inflation.

Against this backdrop, the Federal Reserve announces policy

on Wednesday. The European Central Bank, Bank of England and

Bank of Japan follow on Thursday.

"Markets are bracing themselves for the central bank

avalanche kicking off tomorrow," said Commerzbank rates

strategist Erik Liem in a note.

Expectations for near-term rate cuts from the Fed and BoE

have been dashed by the spike in energy prices since the start

of the war, while markets have moved to price in tighter policy

from the ECB by the end of the year.

The hawkish global repricing has pushed up euro zone bond

yields to their highest in months, with the bloc's economy

particularly sensitive to rising energy prices.

Germany's 10-year bond yield, the benchmark for

the euro zone, was little changed on the day at 2.948%, although

it remained close to its highest level since October 2023,

reached on Friday, of 2.994%.

The 2-year yield, which is sensitive to changes

in ECB policy expectations, was down 0.5 basis points at 2.404%.

It has risen more than 40 bps since the outbreak of the Middle

East conflict.