The report says that the policymakers at the BOJ are growing less confident about an early pickup in global growth and may be more open to debating additional easing at next week’s monetary policy meeting.
Citing sources familiar with discussions, the report adds that any decision on further easing and when it may be introduced will be a close call with any conclusion on the matter possibly to be left until the last minute.
Among the options said to be up for debate are taking rates further into negative territory but other easing options are not off the table at this stage.
I don’t think it comes as much of a surprise given the way things are shaping up globally (slowing global economy and global central banks easing). However, the BOJ does have limited ammunition and even a further rate cut will do little to change things at this point.