The Bank of Japan is expected to maintain its massive stimulus on Friday and reiterate its upbeat view that the economy is strong enough to weather next year's sales tax increase without additional monetary policy measures.
The nine-member board is also likely debate how the U.S. Federal Reserve's decision last month to delay tapering its own asset-buying program could affect capital flows and the global economic outlook.
At the two-day rate review concluding on Friday, the BOJ is widely expected to keep its monetary easing intact, under which it aims to double base money via asset purchases to meet its target of lifting inflation to 2 percent in roughly two years.
The policy review follows Prime Minister Shinzo Abe's decision on Tuesday to proceed with a planned increase in the sales tax to 8 percent from 5 percent next April and cushion its impact with a 5 trillion yen ($51 billion) stimulus package.
BOJ Governor Haruhiko Kuroda is expected to welcome Abe's decision as an important first step in reining in Japan's huge public debt which, at double the size of its $5 trillion economy, is the biggest among major industrialized nations.