The Bank of Japan's next move will be to dial back its massive stimulus, according to an increasing number of polled analysts, reflecting receding market expectations of imminent monetary easing by the central bank.

But any such withdrawal of stimulus will begin in 2021 at the earliest, the analysts predicted, a sign that monetary policy in Japan could be in a holding pattern for the time being.

"There's a chance growth in overseas and Japanese economies could pick up next year," said Nobuyasu Atago, chief economist at Okasan Securities.