The Japanese government bonds traded narrowly mixed Thursday as investors await the two of the world’s largest central banks’ monetary policy decisions.

The benchmark 10-year bond yield, which moves inversely to its price, rose 1/2 basis point to 0.041 percent, the yield on long-term 30-year note remained steady at 0.63 percent and the yield on short-term 3-year note climbed 1/2 basis point to -0.15 percent by 08:00 GMT.

Gross domestic product in Japan during the third-quarter of this year declined unexpectedly, following drops in business spending and in private inventories. Japan unexpectedly cut its reading of third-quarter economic growth to an annualized 1.3 percent, from a preliminary estimate of 2.2 percent expansion, data released by the country’s Cabinet Office showed Thursday. The median estimate of economists in a Bloomberg survey was for an annualized 2.3 percent expansion

The European Central Bank (ECB) is expected to release its monetary policy decision on Thursday at 12:45 GMT. The main thing to come out of ECB meeting is to be an extension of its QE programme, probably at the current pace of 80 billion Euros per month. But there is a risk of tapering or other surprises, of course, and some technical adjustments to the programme are likely to be announced.

Additionally, the Federal Reserve is expected to hold its last monetary policy meeting for 2016 next week on December 14. We foresee that the Fed will certainly increase rates now in December owing to stronger labour market and the recovery in economic growth.

Meanwhile, the benchmark Nikkei 225 closed 1.45 percent higher at 18,765.47.