Wall Street set to open lower ahead of Fed decision

Wall Street was set to open lower on Wednesday as investors shifted their focus from the Turkish central bank's bold interest-rate hike to the U.S. Federal Reserve's impending decision later in the day on its monthly bond-buying program. * Global equity markets got a boost from Turkey's central bank, which stunned investors with a dramatic rate hike designed to defend its crumbling currency. * Market participants have turned their focus to the U.S. Fed's two-day policy meeting which ends Wednesday, the outcome of which will be announced at 2:00 p.m. EST (1900 GMT). * South Africa's Reserve Bank raised interest rates for the first time in nearly six years on Wednesday, in step with other emerging market economies that have tightened monetary policy to shore up their declining currencies.

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