The Bank of Japan will leave monetary policy unchanged this week as easing trade tensions and calmer financial markets relieve some of the pressure to act, a Bloomberg survey suggests.

About three-quarters of 48 economists said the BOJ will leave policy unchanged at the end of its two-day meeting Thursday, hours after the Federal Reserve is forecast to cut interest rates.

The European Central Bank last week cut rates and revived bond purchases, part of a global policy shift that has raised expectations the BOJ will follow suit.