Asian markets traded higher after global investors shrugged off the Italian referendum results and Matteo Renzi's resignation.
Market expectations of a Federal Reserve move in December have risen to 92 percent according to an analyst.
Chinese markets traded higher after stronger-than-expected twin PMI surveys gave investors a boost of confidence.
The Reserve Bank of Australia held interest rates at 1.5 percent on Tuesday, a widely expected decision.
The RBA's decision was largely in line with expectation but a rate cut down the road shouldn't be ruled out, says Nomura Australia's Andrew Ticehurst.
It's unlikely the RBA will adjust the cash rate as core inflation was in line with forecasts, says Steven Milch, chief economist at Suncorp.
The RBA is expected to keep rates unchanged, while indicators to look at include inflation and the housing market, says Moodys Analytics's Emily Dabbs.
Central bank decisions are due out of the U.S., Japan and Australia this week, but most analysts aren't convinced that the time is right for rate moves.
Westpac Bank's Robert Rennie talks about what he expects from the Bank of Japan, the Reserve Bank of Australia and the Federal Reserve in the week ahead.
Asia markets fell across the board on Wednesday, with Australian shares leading losses as oil prices withdrew further.
While annual inflation remains below 2 percent, it is unlikely that the RBA will cut rates further this year, says Joe Magyer, CIO at Lakehouse Capital.
Asian markets were mixed on Tuesday as South Korea's shares slipped after data showed economic growth slowed in the third-quarter.
China's rebalancing to a consumption-led model will benefit consumer-oriented stocks in China and Australia, says StanChart's Clive McDonnell.
Most Asia markets ended higher on Tuesday, as oil prices advanced and gaming shares retraced some of Monday's losses.
The Reserve Bank of Australia won't be cutting interest rates further, based on inflation data and the Aussie dollar, says Macquarie WM's Martin Lakos.
Australia's big four banks have been in the headlines for all the wrong reasons in the past year.
Fundamentals for consumer spending in Australia are solid and the economy looks resilient, says David Bassanese, chief economist at BetaShares Capital.
Asian equities were higher on Tuesday, with the ASX recovering earlier losses to struggle into positive territory.
New Governor Philip Lowe opted to wait and see, with September inflation data likely to be key to future rates decisions.
Tuesday's decision to stay on hold was largely expected and the RBA is likely to keep a close eye on inflation going forward, says Shane Oliver, chief economist at AMP Capital.