The Bank of Japan has decided to maintain its large-scale monetary easing measures.
Ahead of the Bank of Japan meeting, the US Fed and Federal Reserve Board decided to raise interest rates significantly to keep record inflation in check.
The interest rate gap between Japan and the United States is widening.
The difference in policy direction is even more pronounced.
Immediately after the Bank of Japan announced its monetary policy, the yen depreciated to the 145 yen level to the dollar for the first time in 24 years.
Governor Kuroda says that monetary easing is still necessary for economic expansion accompanied by wage increases.
However, monetary easing accelerated the depreciation of the yen.
Further price hikes could have a direct impact on people's livelihoods.
How does Governor Kuroda intend to deal with this?
He will be breaking the press conference starting at 3:30pm.
Governor Kuroda to hold press conference soon
Kuroda's press conference will be held at the Bank of Japan's head office in Nihonbashi Hongokucho, Tokyo.
It is held after each meeting to decide monetary policy.
At the press conference, Governor Kuroda first explained the decisions made at the meeting.
He then answers questions from reporters.