The BOJ did increase the size of its asset purchase program in February and April, but it has been generally reticent about committing itself like the Fed and ECB "to whatever it takes" within their mandates. Not only is Japan still experiencing deflation by the BOJ's preferred core measure (-0.3% year-over-year in July), but the economy appears to be stalling, if not worse. It will also have a better handle on what ECB and especially the Federal Reserve's policy impact on the yen, which traded at 7-month highs against the dollar following the Fed's announcement last week.