Next on the day's agenda from the Bank of Japan is Governor Ueda's press conference

<p><a href="https://www.forexlive.com/centralbank/boj-makes-no-change-to-its-major-policy-planks-no-change-to-forward-guidance-20230922/" target="_blank" rel="follow">The Bank of Japan kept its main policy levers unchanged </a></p><ul><li> short-term rates minus 0.1%</li><li>10-year Japanese government bond (JGB) yields to move around 0%<ul><li>retained a reference to the fluctuation range for 10-year bond yields to "around plus or minus 0.5 percentage point"</li><li>will maintains a ceiling of 1% for 10-year JGB yields, to buy JGBs at that level every day</li></ul></li></ul><p>Its guidance remained dovish:</p><ul><li>the bank "will not hesitate to take additional easing measures if necessary."</li></ul><p>—</p><p>Fixed-rate bond purchase operations at 1% were introduced in the last meeting in July</p><ul><li>the BOJ has been purchasing an average of 10 trillion yen (US$67billion) worth of JGBs a month so far this year, fastest pace ever</li><li>the BOJ now owns 53% of Japanese government bonds in circulation</li><li>long-term yields have been rising at a fairly steady pace, hitting the highest in 10 years</li></ul><p>—</p><p>The BOJ is under growing government pressure to respond to the yen's sharp depreciation.</p><p>There are some expectations that Bank of Japan Governor Ueda will address the weakening current in his news conference scheduled for 3:30 p.m. Japan time, in an effort to slow, its fall.</p><ul><li>0630 GMT</li><li>0230 US Eastern time</li></ul><p>—</p><p>USD/JPY update:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.