A look at the day ahead in European and global markets from Ankur Banerjee

An expected hold from the Bank of Japan rounded out the central bank bonanza this week that has left stocks ripping higher and the currency market subdued, with the dollar staying soft as investors remain uneasy about the global rates outlook.

The BOJ's decision, though, was not unanimous with two dissents suggesting policymakers are at odds over when to hike next.

Focus will now be on BOJ Governor Kazuo Ueda's press conference where markets will look for clues on the rate outlook and more details on the central bank's plans to sell its holdings of ETFs and real-estate investment trusts (REIT).

The yen firmed immediately after the decision although nothing to get out of bed for, while the Nikkei slipped after touching another record high earlier in the session.

Elsewhere, Asian markets tracked Wall Street higher after the Federal Reserve cut rates as expected earlier this week, although comments from Chair Jerome Powell were measured and did not hint at a rapid lowering of borrowing costs.

Just don't tell the stock market that. Taiwan's benchmark index hit another record high on Friday after Wall Street's main indexes scaled record peaks. European futures indicate a subdued open after a strong session on Thursday.

The Bank for International Settlements, which acts as an umbrella group for the world's central banks, warned this week that record global share prices appear increasingly disconnected from the rising concerns about government debt levels in bond markets.

The dollar has been steady although investors expect the greenback to be weaker in the near term. Bear in mind, the U.S. currency is down more than 10% this year so how much further it falls from here might be limited.

With little economic data on tap during European hours, the spotlight will remain on interest rates and some whipsawed reaction to the BOJ decision through the session.

European tech stocks will also be in focus after Nvidia said it would pour $5 billion into Intel, throwing its weight behind the struggling U.S. chipmaker.

Key developments that could influence markets on Friday:

Economic events: UK retail sales for August, Germany August producer prices

(By Ankur Banerjee; Editing by Muralikumar Anantharaman)