Instead, the Bank of Japan's policy board at its two-day meeting this week will focus on capital investment and wages to assess the economy, Kyodo reported.
Other issues expected to come up at the meeting of the nine board members will be the impact on Japan's economy of the U.S. Federal Reserve tapering its quantitative easing, the slowing growth in emerging economies and rising crude oil prices due to growing Syrian tensions.
The central bank's monetary easing policy is designed to lift the country's economy from years of deflation. The bank also has doubled its inflation target to 2 percent in the next two years.
Experts will be watching whether the BOJ, encouraged by the improvement in the economy, will upgrade its assessment for the year, the report said.
Last month, the bank had noted the economy is "starting to recover moderately."