Global stocks and major Wall Street indexes gained on Wednesday after the Federal Reserve held interest rates steady, as expected, and oil prices rose on renewed concerns over supply disruptions.
In a 10-2 decision, the US central bank said it would maintain its benchmark interest rate within the current 3.75%-4.00% range.
The Fed upgraded its assessment of the economy while acknowledging inflation "remains elevated." After the release, Fed Chair Kevin Warsh told reporters the central bank has made clear its willingness and readiness to act.
US Treasury yields gave up gains briefly after Warsh's comments.
MSCI's gauge of stocks across the globe rose 4.29 points, or 0.38%, to 1,134.03.