Kuroda is expected to begin speaking around 0630 GMT

Kuroda BOJ

The BOJ announced no changed to its monetary policy earlier but lowered some of its economic projections slightly for the upcoming fiscal years. The downgrades were very much anticipated given Japan's sluggish start to the calendar year so expect Kuroda to continue singing the same old tune in his press conference later.

With the government looking to push forward with a sales tax hike in October, the BOJ's message will be that they have to stay accommodative in order to provide confidence for the government to follow through on that proposal.

Hence, expect more "BOJ intends to maintain powerful monetary easing" comments from Kuroda in just under an hour's time.