* Asian currencies muted, stocks fall
* BI and BSP expected to keep rates unchanged on Thursday
* Fed policy decision on Wednesday, BOJ on Friday

By Upasana Singh
       Sept 18 (Reuters) - Asian currencies were subdued on
Monday in a week packed with central bank meetings in Indonesia
and the Philippines and by the U.S. Federal Reserve, the Bank of
Japan and the Bank of England.
    Indonesia's rupiah, Malaysia's ringgit, the
Chinese yuan and the Taiwan dollar fell 0.1%
    The Philippine peso, the Singapore dollar and
Thailand's baht were trading flat.
    "Sentiments seem to be treading on some 'calm before the
storm' in the lead-up to a series of key central bank 'live'
decisions this week," said Yeap Jun Rong, market analyst at IG.
    Consensus expectation is for the Fed to hold rates but stay
hawkish at the end of its two-day meeting on Wednesday, while
Bank Indonesia (BI) and the Bangko Sentral ng Pilipinas (BSP)
are expected to keep rates steady at their respective policy
meetings on Thursday. 
    "The recent pickup in inflation (in the Philippines) likely
means the central bank will have to maintain its hawkish
rhetoric and push back against expectations of policy easing,"
analysts at Barclays said in a note.
    Meanwhile, there is a lot of uncertainty about the Bank of
Japan's policy decision after recent comments from Governor
Kazuo Ueda stoked speculation of an imminent move away from
ultra-loose policy.
    The yen, which has fallen over 11% so far this year,
was up 0.1%. 
    On Thursday, Bank of England is tipped to hike for the 15th
time and take benchmark borrowing costs to 5.5%. 
    "Risk appetite will be heavily influenced by any shifts in
interest rate expectations over the coming week," said Tim
Waterer, chief market analyst at KCM Trade.
    An extended rally in oil prices to a 10-month high stoked
inflationary pressures and sapped appetite for net importer of
Asian currencies such as the South Korean won and the Thai baht.

    Separately, data showed Singapore's non-oil domestic exports
fell for an 11th straight month in August as the trade-reliant
economy continues to grapple with global headwinds on inflation
and declining demand.
    Stocks across emerging Asia were broadly lower, with
equities in Taipei declining 1.2% and leading losses.
Shares in Indonesia, South Korea and Thailand
 dropped between 0.4% and 0.9%.
    Equity market in Japan was closed for a public holiday.
    ** China will increase its imports of Malaysian palm oil by
250,000 metric tons a year, state news agency Bernama reported,
citing Malaysian Prime Minister Anwar Ibrahim
    ** India's benchmark 10-year bond yield rises to
    The following table shows rates for Asian currencies against
the dollar at 0421 GMT.
                      DAILY %  YTD %     X   DAILY   YTD %
 Japan                  +0.08  -11.2  <.N2    -       -
                                   3  25>           
 China                               EC>           
 India                  +0.08  -0.48  <.NS   -0.22   11.28
 Indonesi               -0.12  +1.28  <.JK   -0.36    1.56
 a                                    SE>           
 Malaysia               -0.05  -6.07  <.KL   -0.14   -2.57
 Philippi               +0.04  -2.04  <.PS   -0.21   -6.89
 nes                                  I>            
 S.Korea                             11>           
 Singapor               -0.01  -1.73  <.ST   -0.34    0.56
 e                                    I>            
 Taiwan                 -0.12  -3.94  <.TW   -1.16   18.30
 Thailand               +0.03  -2.98  <.SE   -0.37   -7.93
 (Reporting by Upasana Singh in Bengaluru; Editing by Michael