EMERGING MARKETS-Asian FX subdued, stocks fall ahead of cenbank meetings

* BI and BSP expected to keep rates unchanged on Thursday * Fed policy decision on Wednesday, BOJ on Friday * Stock market in Japan closed for a public holiday By Upasana Singh Sept 18 (Reuters) - Asian currencies were muted on Monday, while stock markets traded lower in a week packed with central bank meetings including Bank Indonesia (BI) and the Bangko Sentral ng Pilipinas (BSP). Investors also keenly awaited monetary policy decisions from the U.S. Federal Reserve, the Bank of Japan and the Bank of England, due later this week. Indonesia's rupiah, among the best performing currencies in the region so far this year, fell 0.2%. The Chinese yuan dipped 0.2%. The Philippine peso rose 0.1%, while Thailand's baht and the Indian rupee were trading flat. Equities in Taipei slid 1.3%, leading losses in the region, with shares in South Korea, Bangkok, and Manila declining between 0.5% and 1%. "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. Bank Indonesia and the Bangko Sentral ng Pilipinas are expected to keep rates steady at their respective policy meetings on Thursday. "With the Fed expected to maintain tight policy, we believe that Bank Indonesia has very little cushion to cut rates without weighing on the rupiah," said Win Thin, global head of currency strategy at BBH. At the end of its two-day meeting on Wednesday, the Fed is expected to hold rates but stay hawkish, while the Bank of England is tipped to hike rates for the fifteenth time on Thursday. Meanwhile, there is a lot of uncertainty around 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, rose 0.1%. "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. Separately, an extended rally in oil prices to a 10-month high on Friday stoked inflationary pressures and further weighed on net importer of Asian currencies such as the Indian rupee, the South Korean won and the Thai baht. HIGHLIGHTS: ** Analysts expect China's central bank to keep loan prime rates steady on Wednesday ** Thai Prime Minister Srettha Thavisin said his government will be rolling out more policies by the year's end to lower living costs ** Taiwan's central bank is expected to leave its policy rate unchanged this week, according to all economists polled by Reuters, as inflation subsides but exports that drive the island's trade-dependent economy remain in the doldrums The following table shows rates for Asian currencies against the dollar at 0652 GMT. COUNTRY FX RIC FX FX INDE STOCKS STOCK DAILY % YTD % X DAILY S YTD % % Japan +0.12 -11.2 <.N2 - - 0 25> China EC> India -0.02 -0.58 <.NS -0.05 11.47 EI> Indonesi -0.17 +1.23 <.JK -0.41 1.51 a SE> Malaysia -0.06 -6.08 <.KL -0.16 -2.59 SE> Philippi +0.05 -2.02 <.PS -0.50 -7.16 nes I> S.Korea 11> Singapor -0.01 -1.73 <.ST -0.41 0.49 e I> Taiwan -0.15 -3.96 <.TW -1.32 18.11 II> Thailand +0.00 -3.01 <.SE -0.54 -8.09 TI> (Reporting by Upasana Singh in Bengaluru; Editing by Sonia Cheema)