Bloomberg with the Nikkei headline

From the article itself:

The Bank of Japan is taking a serious look at expanding its monetary easing measures

The oil rout has changed the BOJ's thinking. "If falling consumer prices resulting from crude's plunge are making more people feel that prices are less likely to rise, then we should consider additional easing," said a senior BOJ official.

It cites:

  • Sliding oil prices weighing on the 2% inflation target
  • The strengthening yen
  • Falling stocks
  • Expectations growing within the government and the ruling party for additional easing steps

Says further that the BOJ will downgrade its fiscal 2016 consumer price growth forecast from 1.4% to around 1%. (The bank will release its Outlook for Economic Activity and Prices report on January 29). And its also likely to extend the time frame for hitting the 2% inflation target beyond "around the second half of fiscal 2016" as currently estimated

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Kuroda will struggle to get the votes at the board meeting, or, at the very least, it will be very close. But the drums have been beating for more easing from the government. Of course there is plenty of 'its up to the BOJ', but there have also much discontent with slow progress on inflation, continued signs of a weak economy, and a strengthening of the yen against the USD

more to come