Page 35 - Frx News Today

Asian finance leaders gathering in South Korea next week will likely debate ways to beef up safeguards against market turbulence, as global banking sector woes and fears of recession in advanced economies cloud the economic outlook.

The Bank of Japan (BOJ) on Friday kept ultra-low interest rates but announced a broad review of its monetary policy, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor's massive stimulus programme.

A look at the day ahead in U.S. and global markets from Mike Dolan

Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country's booming trade with Russia and deepening ties with the Middle East.

Kenya's shilling held its ground against the dollar on Friday, as traders were cautious before the introduction of oil import deals that should ease persistent FX demand from fuel marketers.

The South African rand weakened against a stronger dollar early on Friday, ahead of the release of budget and trade data that could indicate the health of Africa's most industrialised economy.

Asian stocks rose on Friday as strong corporate earnings lifted sentiment despite lingering worries over economic weakness, while the yen dipped after the Bank of Japan kept rates ultra-low even as it announced a broad review of monetary policy.

Inflation-hit Pakistan on Friday approved a rise of up to 20% in retail prices of general medicines and 14% for essential ones, prompting immediate criticism from drug manufacturers who said the increases were too small.

Meetings at the U.S. Federal Reserve, the European Central Bank and Australia's central bank top the agenda, while megacap Apple brings the U.S. earnings season to an end, as markets work through fresh banking tremors.

The Czech National Bank (CNB) is likely to maintain policy stability and keep its key interest rate at a more than two-decade high of 7.00% on Wednesday, a Reuters poll showed, with expectations still leaning toward a cut in the third quarter.