BoJ probably won’t act today, but is set to increase stimulus in Oct

The Bank of Japan will almost certainly leave policy settings unchanged today, and the apparent strength of Q1 GDP suggests that an expansion of asset purchases at the Bank's July meeting is off the table. 

"We remain convinced that policymakers are too optimistic about the prospects of reaching their 2% inflation target, and we still think that more easing will be needed." said Capital Economics

The end-October meeting now appears to be the most likely venue for the introduction of additional stimulus.