Some Bank of Japan officials see a growing likelihood the central bank will lower its inflation outlook and again delay the time frame for reaching its target due to cheaper oil prices, said people familiar with the discussions.

Officials at the same time are placing increasing weight on an alternative price gauge that excludes energy and thus shows inflation trends holding up, said the people, who asked not to be named because the talks are private. Any need for increased monetary stimulus will be determined by the next few months' economic data, they said.

Additional easing won't be needed if oil prices are the only consideration behind a decision to cut the bank's inflation forecasts, which are due on Oct. 30 when it releases its next economic outlook report, according to the people.