One of Bank of Japan Governor Kazuo Ueda's biggest challenges will be to phase out a controversial yield curve control policy, which is criticised for distorting markets by keeping long-term interest rates low despite creeping inflation.
The yen languished near a 15-year low against the euro and around a seven-month trough against the dollar on Friday, ahead of a closely-watched policy decision by the Bank of Japan, where it is set to stay ultra-dovish in the face of its hawkish peers.
Asian shares rose to a near four-month high on Friday as resilient U.S. economic data stoked expectations that the Federal Reserve is near the end of its rate-hike campaign, with investor focus switching to the Bank of Japan's policy meeting.
China will speed up the process to allow private firms to access infrastructure of major national scientific research projects and will encourage private businesses to participate in key supply chain projects, a state planner spokesperson said on Friday.
The Bank of Japan maintained ultra-easy monetary policy on Friday despite stronger-than-expected inflation, as it focuses on supporting a fragile economic recovery amid a sharp slowdown in global growth.
The Bank of Japan held interest rates at ultra-low levels on Friday, and maintained its current pace of yield curve control while forecasting an improvement in economic conditions and a downturn in inflation.