While the BOJ may paint a rosier view on the economy due to robust exports, it will warn of the strains on consumption from a recent resurgence in COVID-19 infections, they said.
Japan's economy is gradually recovering from pandemic-induced pain thanks to robust exports, though a slow vaccine rollout and climbing coronavirus infections, particularly in the city of Osaka, cloud the outlook.
Kuroda also pledged to stick to the 2% inflation target, which he described as a global standard, as it helps stabilise currencies among major economies.
The central bank is also likely to clarify how much it will allow bond yields to deviate from its 0% target, and consider steps to address the side effects of negative interest rates.
Having already extended a raft of measures last month to ease funding strains for firms hit by the pandemic, the BOJ is expected to hold off ramping up stimulus at the Jan. 20-21 policy meeting, the sources said.