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TOKYO, March 16 (Reuters) - Japanese government bonds firmed on Thursday ahead of the conclusion of Bank of Japan's policy meeting, tracking gains in U.S. Treasuries after the U.S. Federal Reserve hiked interest rates as expected but did not signal any changes to its outlook.
The benchmark 10-year JGB yield fell 1 basis point (bp) to 0.080 percent, while 10-year JGB futures were up 0.17 point at 150.08.
The yield on 20-year JGBs fell 2 bps to 0.645 percent, and the 30-year JGB yield shed 2.5 bps to 0.835 percent.
The BOJ is widely expected to hold policy steady and stress that inflation is nowhere near levels that would justify considering withdrawal of its massive stimulus programme.
BOJ Governor Haruhiko Kuroda will speak after the meeting and is likely to signal that the central bank has no plan to raise its JGB yield targets any time soon as inflation is still far below BOJ's 2-percent target.
On Wednesday, U.S. two-and three-year yields fell from multi-year highs after the Fed said that further rate increases would only be "gradual," with officials sticking to their outlook for two more rate hikes this year and three more in 2018. (Reporting by Tokyo markets team; Editing by)