The US Federal Reserve's decision to keep rates on hold saw Treasury debt yields fall, oil price rise and stocks edge higher.

The share market has come under pressure on increasing chances of an interest rate cut next month following the release of weak inflation data.

The share market is almost one per cent higher at noon, lifted by the big four banks and oil-related stocks.

Wall Street stocks have risen slightly with commodities and oil prices up, while a Federal Reserve policymakers meeting is underway.

Stocks of interest on the Australian Securities Exchange

The Australian share market has closed slightly lower, as weaker prices for iron ore and oil pulled back resources and energy stocks.