In comments made before the BOJ decision, Richard Martin, executive vice president at IMA Asia says if the central bank misses the opportunity to cut rates, there's nothing Japan can do to revive its export sector.
Low oil prices likely reinforced the Bank of Japan's excuse to wait a little longer before changing policy, says Sean Callow, senior currency strategist at Westpac Bank.
Slides in Japan's December household spending and factory output, released today, add to pressure on the Bank of Japan to ease monetary policy.
David Gaud, senior portfolio manager at Edmond de Rothschild Asset Management, says it'll be hard for Japanese markets to beat last year's performances.
Japan's economy minister Akira Amari was a close confidante of Prime Minister Shinzo Abe but his resignation won't upset the overall agenda, says Ed Rogers, CEO at Rogers Investment Advisors.
Takeshi Kunibe, president and CEO of Sumitomo Mitsui Banking, says geopolitical conflicts and China's slowdown are responsible for global volatility.
Tim Quinlan, VP and and economist at Wells Fargo, says Akira Amari's resignation could be seen as him taking ownership of the fact Abenomics hadn't lived up to the hype.
Asia markets were mixed, but largely trimmed earlier losses, despite Wall Street's fall after the Fed appeared to temper its expectations for U.S. growth.
Rabobank's Michael Every says more quantitative easing will only help marginally, but the BOJ can't stand pat given weaker consumption.
Jesper Koll, CEO of WisdomTree Japan, says there is a high likelihood the Bank of Japan will ease policy further.
Tony Nash, chief economist at Complete Intelligence, says it's interesting to see the Fed use "overseas markets" as an excuse to not take action.
Barclays' Mitul Kotecha explains that the Fed is waiting on more data, with a focus on the labor market.
It's widely expected that Fed funds rates will remain unchanged, but the FOMC will likely mention that the economy has slowed, says Elias Haddad from Commonwealth Bank of Australia.
A fund manager who called $30 oil a year ago has some more bold (mostly bad) news for investors.
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There will be Fed hikes this year, but they'll be done with sensitivity to events in markets, Philip Wee, senior FX economist at DBS Bank, predicts.
Very unlikely since the bulk of the U.S. economy is in great shape, despite the slowdown in manufacturing and exports, according to Richard Jerram, chief economist at Bank of Singapore.
Peter Michaelis, head of equities at Alliance Trust Investments, talks about central bank policy and whether the Federal Reserve will raise rates again in 2016.
Jesper Koll, CEO of WisdomTree Japan KK, explains that Japan's policymakers have to respond decisively in order to boost fragile domestic demand.
Europe and Japan equities are more attractive than U.K. and emerging markets stocks, UBS Wealth Management's global CIO told CNBC.