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ASX to rise ahead of RBA policy meeting, global stocks rebound

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Australian shares are expected to start the day higher, tracking gains made on Wall Street overnight and ahead of the Reserve Bank's monetary policy meeting today.

Wall Street edged higher on Monday after a rise in European shares helped stabilise investor sentiment after a series of volatile sessions.

On Wall Street, the Dow Jones Industrial Average rose 0.1 per cent, while the S&P 500 gained 0.82 per cent. Meanwhile, the MSCI World index, while higher on Monday, remains down 6.2 per cent in January, its worst start to the year since 2016.

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