Bank of Japan Gov. Haruhiko Kuroda hasn't faced such intense expectations for more monetary stimulus anytime since his first meeting as Bank of Japan governor in 2013.
Thirty-two of 41 analysts forecast that Kuroda and the BOJ board will expand their record program at the two-day meeting ending on Friday, according to a Bloomberg survey conducted from July 15 to 22. That is the highest percentage of respondents in any poll since his first decision more than three years ago, when economists were unanimous in estimates that Kuroda would add to easing.
An increase in purchases of exchange-traded funds remains the most likely area for a boost, followed by a deeper cut in the negative interest rate applied to a portion of the money that commercial banks park at the BOJ, according to the survey. Just under half of the respondents said Kuroda would accelerate buying of government bonds, which is the mainstay of his efforts to drive inflation.