(Bloomberg) —Asian stocks were poised for a mixed start after the dollar declined with Treasury yields as investors assessed minutes from the Federal Reserve’s most recent meeting where officials said inflation remains muted.

Fed policy makers said they needed to wait for more evidence that the recent weakness in the pace of economic activity is transitory before taking steps to reduce its loose stance. Stock futures in Australia and Hong Kong rose, while those in Japan were flat. The S&P 500 Index completed its rebound from the biggest selloff of the year a week ago, closing at a fresh record high.

Investors reacted cautiously as the minutes confirmed the likelihood of a June rate increase, while casting some doubts over the trajectory for rates thereafter. Nearly all Fed policy makers believe that as long as the world’s largest economy continues as expected, the central bank can start reducing its balance sheet this year.

“This came as a surprise to us, as it is a somewhat more aggressive path than we had envisioned,” said Omair Sharif, New York-based economist at Societe Generale SA.

Stock markets in the U.S. have recovered from worries surrounding the prospects for President Donald Trump’s reform policies which triggered the biggest slide on the S&P 500 in eight months last week. Chinese shares rose in the final minutes of trading Wednesday, erasing losses spurred by Moody’s Investors Service cutting China’s debt rating and negative comments from MSCI Inc. on the nation’s stock market.

Here are key upcoming events:

OPEC meets in Vienna. The price of oil has climbed going into the discussions on expectations supply cuts will be extended. South Korea releases its monetary policy decision, as does South Africa later Thursday. Data on U.K. GDP.Here are the main moves in markets:

Futures on the S&P 500 were little changed as of 7:05 a.m. in Tokyo. The underlying gauge rose 0.3 percent Wednesday. The Stoxx Europe 600 Index ended with a gain of 0.1 percent. The yen slid 0.1 percent to 111.58 per dollar after the Japanese currency climbed 0.3 percent Wednesday. The yield on 10-year Treasury notes lost three basis points to 2.25 percent on Wednesday. The Bloomberg Dollar Spot Index fell 0.3 percent to near the lowest since November. Futures on the Nikkei 225 were little changed in most recent trading in Chicago. Contracts on Australia’s S&P/ASX 200 Index added 0.2 percent and Hang Seng Index futures advanced 0.1 percent. Crude lost 0.1 percent to $51.30 a barrel, extending Wednesday’s 0.2 percent drop.