Japanese consumer inflation rose as expected in January, data showed on Friday, amid rising commodity costs and robust local demand, putting more pressure on the Bank of Japan to potentially tighten policy as it experiences a change in leadership.

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to a persistently tight labor market, and further fueling fears that the Federal Reserve could raise interest rates higher than anticipated.

JPMorgan Chase & Co (NYSE:JPM) Chief Executive Jamie Dimon expects U.S. interest rates could hit 6%, he said in an interview with CNBC on Thursday.

Global trade grew more than expected last year despite the upheaval caused by the Russia-Ukraine war, as badly-affected countries managed to switch suppliers or products, the World Trade Organization (WTO) said on Thursday.

Asian markets breathed a sigh of relief on Friday as the incoming head of Japan's central bank soothed fears of an early end to super-easy monetary policy, nudging bond yields lower globally.

Oil prices rose on Friday and were close to trading positive for the week as the prospect of deeper-than-expected cuts in Russian supplies largely offset concerns that rising interest rates will dampen demand this year.