Most markets rose Monday as investors gear up for an expected US interest rate cut this week, with debate centring on the likelihood the Federal Reserve will continue easing monetary policy further into the new year.

The reduction has been well baked into traders' plans following a string of comments from key decision-makers since last month and data indicating the labour market continues to deteriorate.

However, with the latest round of inflation figures suggesting there is plenty of work to do to get prices under control, and confidence among consumers softening, there are worries the central bank might not have room to keep cutting.

The latest, and delayed, reading on September personal consumption expenditure (PCE) -- the Fed's preferred gauge of inflation -- came in slightly above

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