The survey was conducted on 13-21 July, so it will have accounted for the latest US-Iran developments for the most part. These are some of the key findings:83 of 87 economists expect BOJ to leave interest rates unchanged this quarter75 of 87 economists expect BOJ to deliver another 25 bps rate hike to 1.25% by end-December27 of 51 economists expect that rate hike to be in December, while 18 of 51 economists expect a move in October23 of 32 economists said BOJ was not moving too slowly on rate hikes23 of 29 economists believe that USD/JPY around 160 is "too weak" relative to Japan's economic fundamentalsI think the expectation of the next move by the BOJ is a fair one, largely keeping with market pricing as well. As things stand, traders are pricing in ~25 bps of rate hikes by the BOJ by year-end.At this stage, I would argue that a move in either October or December is very much a toss up. A lot will also depend on how things play out with regards to the Middle East situation.Adding to potential inflation complications now is the weak Japanese yen currency. The BOJ might feel more compelled to take action with the currency being down in the doldrums as that could acceleration price pressures in the Japanese economy. As such, an earlier move could be an option in order to curb such inflationary pressures - should the opportunity present itself that is.As for the ~80% of respondents believing that USD/JPY at 160 being "too weak", that is quite an interesting one. While the path of least resistance remains for a move higher in the currency pair, how much exactly is too much given the market moves since October? It definitely does warrant some consideration.But then again, there is nothing in terms of fundamental developments to really suggest a turnaround in sentiment for the yen currency.And when you take that into consideration, it's tough to really say that even at fresh 40-year lows that the yen is "too weak" i.e. USD/JPY is "too high". This article was written by Justin Low at investinglive.com.