Australian shares are likely to rise on Wednesday, a day after the country's central bank held interest rates at a record low and pushed back on market wagers for an early rate rise, with higher commodity prices set to aid mining stocks.

The local share price index futures rose 0.8%, a 42-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.5% on Tuesday.

Australia shares edge higher in choppy trade ahead of RBA outcome

New Zealand's benchmark S&P/NZX 50 index rose about 1.2% by 0925 GMT.