The Bank of Japan's decision-making panel opened a two-day meeting Monday as analysts widely expect the central bank to maintain its zero-interest rate policy by holding the overnight call money rate near zero.
The market is now focusing on when the BOJ will raise the benchmark short-term interest rate, and a semiannual economic outlook report to be issued April 28 is likely to provide a clue.
Market players are also likely to scrutinize remarks by BOJ Gov. Toshihiko Fukui on the future direction of monetary policy at a news conference scheduled for Tuesday afternoon, following the two-day meeting.