TOKYO, Oct 28 (Reuters) - Japanese government bond yields fell on Thursday, tracking overnight U.S. 10-year Treasury yields lower, though declines were limited as investors remained cautious ahead of central bank meetings outside Japan. The 10-year JGB yield fell 0.5 basis point to 0.090% and the 20-year JGB yield fell 2 basis points to 0.470%. U.S. 10-year yields dropped to a two-week low of 1.52% overnight amid heightened anticipation of a Federal Reserve interest rate rise next year. In the run-up to the Fed’s policy meeting next week, investors also await possible catalysts from policy meetings of the European Central Bank as well as the Bank of England. On Thursday, the Bank of Japan retained its easy monetary policy settings and projected inflation at well below its 2% target for at least two more years. Yields on longer-term notes also fell, with the 30-year JGB yield falling one basis point to 0.680% and the 40-year JGB yield falling one basis point to 0.725%. The two-year JGB yield fell 0.5 basis point to minus 0.105% and the five-year yield fell 1 basis point to minus 0.075%. Benchmark 10-year JGB futures rose 0.15 point to 151.39, with a trading volume of 25,410 lots. (Reporting by Tokyo markets team Editing by Robert Birsel)