All Bank of Japan watchers surveyed expect the central bank to leave its benchmark interest rate unchanged at 0.75% this Friday, according to a Bloomberg survey on Monday.

The decision, concluding a two-day policy meeting, is expected to provide no immediate boost for the struggling yen, said the news wire.

Although the BOJ was the sole major central bank to implement two rate hikes last year--bringing its policy rate to a high not seen since 1995--these increases have not stemmed the yen's decline, said the publication.

The policy announcement coincides with a significant political event, as Prime Minister Sanae Takaichi is set to dissolve the lower house of parliament, paving the way for a snap election on Feb. 8, said the report.