Economists who follow the Bank of Japan aren't buying the idea that the central bank is nearing the point where it will begin to normalize its ultraloose monetary policy.

Slightly more than half of those surveyed said they saw no chance of any change to BOJ policy this year. With the vast majority saying Gov. Haruhiko Kuroda will be reappointed for another term, continuity is expected — at least through the first half of 2018.

If the BOJ does tighten policy this year it's most likely to do it in September or October, according to economists. None envisage any adjustment at the next policy gathering set for Jan. 22-23.