As the Bank of Japan prepares to boost its inflation forecasts this week, analysts from Goldman Sachs Group Inc. to JPMorgan Chase & Co. say the estimates may themselves be used as a tool for ending deflation.

The BOJ may indicate that its 2 percent inflation target will be reached by spring 2015, the Nikkei financial newspaper reported last week. The BOJ may upgrade its view on core price gains to at least 1.5 percent for the year ending March 2015, sources familiar with officials' discussions have said.

BOJ Gov. Haruhiko Kuroda, who this week oversees his second board meeting, says stoking inflation expectations can unlock pentup demand and spur credit growth by alleviating concern real debt burdens will rise.