* Asian stock markets : tmsnrt.rs/2zpUAr4 * Fed trims by $15 bln a month, market sees mid-2022 hike * Inflation risks push long-term yields higher * BoE rate rise in agenda as policy meeting looms * Oil skids as pressure builds on OPEC+ to lift output SYDNEY, Nov 4 (Reuters) - Share markets firmed on Thursday after the U.S. Federal Reserve engineered an orderly start to unwinding its massive stimulus programme, though doubts about the inflation outlook did push up longer-dated bond yields. Anxious eyes now turn to the Bank of England which may kick off a rate hike cycle later in the day with uncertain implications for debt markets globally. For now, equity investors were content that the Fed was in no rush to remove the policy punch bowl and Nasdaq futures added 0.3% to another record high. If sustained, it would be the ninth straight session of gains. S&P 500 futures edged up 0.1%, while Japan’s Nikkei climbed 1.1% to its highest in a month. MSCI’s broadest index of Asia-Pacific shares outside Japan crept up 0.3%. The index has been burdened by a spike in new coronavirus cases in China, which threatens to curb consumer spending in an already slowing economy. Strong readings on U.S. services and employment underpinned the better mood. As expected, the Fed announced it would trim its bond buying by $15 billion a week from this month, while leaving open the option to quicken or slow the pace as needed. Fed Chair Jerome Powell did sound slightly less sure inflationary forces would prove to be fleeting, enough to hit longer-term bonds and bear steepen the yield curve. “Overall, we didn’t get anything that should imply higher market pricing of hikes than what we have now,” said Jan Nevruzi an analyst at NatWest Markets. Fed futures imply a first hike to 0.25% by June with another to 0.5% by the end of 2022.. “While not an ultra-dovish meeting, the result was still a far cry from some of the more stunning hawkish surprises seen recently from the likes of the Bank of Canada,” added Nevruzi. The Canadian and Australian central banks have caused turmoil in their bond markets in the last couple of weeks by abruptly changing tack on policy. Poland’s central bank surprised with an aggressive hike overnight, heightening tensions for the BoE’s meeting where the decision could be nail-bitingly close. The uncertainty kept sterling on edge at $1.3685, having been as low as $1.3605 overnight. The dollar softened a little to 93.846 as speculators booked profits on long positions, though the uptrend of the past five months was still in place. It held broadly steady on the yen at 114.07. The euro bounced modestly to $1.1615, but remains hampered by expectations the European Central Bank will trail the Fed in tightening by some margin. In commodities, the rise in bond yields saw gold dither around $1,776 an ounce. Oil prices slid as U.S. inventories grew and Iran announced the resumption of talks on a nuclear accord. Pressure is also mounting for OPEC+ to expand production at a meeting later on Thursday, though signs are the group will stick with its current plans. Brent stood at $81.99 a barrel, after falling more than 4% overnight, while U.S. crude lost another 49 cents to $80.37. Editing by Gerry Doyle