Amid strong expectations that Prime Minister Shinzo Abe may reappoint Haruhiko Kuroda to another term as governor of the Bank of Japan, at least one key voice is calling for fresh blood at the top of the BOJ to lift the nation's flagging inflation rate.

"The leaders of the central bank must conduct a comprehensive review and then take responsibility," Etsuro Honda, an economic adviser to Abe who is currently Japan's ambassador to Switzerland, said in an interview. "It's impossible to end deflation without bringing in a new regime."

While Abe has said "the slate is completely blank" on who will lead the BOJ when Kuroda's current term ends in April, he's praised the central bank for its efforts to lift prices and affirmed his trust in the governor. The prime minister also has to consider replacements for Kuroda's two deputies, whose terms close in March.