Major Stock Markets Rise Before Fed Rate Decision

Global stock markets are in gradual recovery mode, having plunged last week on the collapse of two regional US banks and the enforced buyout of Credit Suisse by its Swiss rival UBS.

Major stock markets mostly rose Wednesday on soothing worries over the banking sector, according to analysts.

This was helping to offset concerns over stubbornly-high inflation which is expected to see the Federal Reserve again raise US interest rates in a decision due at 1800 GMT.

European Central Bank chief Christine Lagarde on Wednesday said recent financial turbulence could add to "downside risks" in the eurozone.

She added in a speech that policymakers remained focused on taming sky-high inflation.