New Bank of Japan Governor Ueda Kazuo will hold his first policy meeting on Thursday and Friday. All eyes are on what views will be presented on the outlook for prices and the exit strategy for the current monetary easing.

The chief of Japan's central bank said at the Diet this week that judging from the state of the economy and prices, it is appropriate to continue the easing policy with targets for short- and long-term interest rates.

Ueda, who assumed his post on April 9, also said the BOJ will move toward normalizing its monetary policy if the basic trend of price rises is expected to reach 2 percent. He said, however, it is premature to show concrete ways toward the exit.

Following the meeting, the BOJ will make public its latest outlook for the economy and prices and release a forecast for fiscal 2025.

Those forecasts will come after an announcement that the consumer price index for fiscal 2022, excluding fresh food, rose 3 percent from the previous fiscal year. That is the largest jump in more than four decades. Many firms gave wage hikes to their workers in annual negotiations.

Some market players are watching closely to see if the central bank under the new chief will revise its monetary policy.