Haruhiko Kuroda, the new Bank of Japan (BOJ) Governor, holds his first press conference on Thursday, with media reports suggesting the central bank chief will use the opportunity to mark a major departure in monetary policy.
According to the Nikkei business daily, Kuroda is expected to announce a radical policy shift to achieve its 2 percent inflation target.
That was enough to send the benchmark Nikkei stock index to a four-and-a-half year high in early trade and keep the yen trading near recent three-and-a-half year lows around 96.70 per dollar.
The Japanese press leaked that Kuroda would pledge "bold monetary easing both in terms of quantity and quality" – news that even helped support U.S. shares in late Wednesday trade.
(Read More: Kuroda Signals Aggressive Monetary Policy Coming)
"What we know is that Kuroda is likely to promise a fair amount," said Sebastien Galy, senior currency strategist at Societe Generale in New York told CNBC Asia's "Squawk Box." "The BOJ doesn't need to do too much, just not disappoint markets."