Sri Lanka's National Consumer Price Index (NCPI) rose 53.6% in February on the year, after a rise of 53.2% in January, the statistics department of the debt-stricken country said on Tuesday.

The Swiss National Bank will hike its key policy rate by 50 basis points on Thursday, matching the European Central Bank's move last week, as tackling inflation trumps concerns over financial market turmoil, a Reuters poll of economists showed.

British employers expect pay settlements over 2023 as a whole to average 5%, down slightly from the 32-year high of 6% recorded during the three months to the end of February, new industry data showed on Wednesday.

Asian shares staged a cautious bounce on Wednesday with hopes a global banking crisis would be averted vying with uncertainty over the outlook for U.S. interest rates as the Federal Reserve holds a high-stakes meeting on policy.

Oil prices crept lower in early Asian trade on Wednesday as industry data pointed to another week of rising inventories in the world’s largest crude consumer, while an upcoming Federal Reserve interest rate decision spurred cautious plays. 

The dollar was pinned near five-week lows on Wednesday ahead of the conclusion of the U.S. Federal Reserve's policy meeting, with investors awaiting clarity on the path the central bank is likely to take in the wake of global banking turmoil.