Use the left mouse button when the mouse mode is set to Zoom Out . Hold down on the mouse button, drag the mouse to create a rectangle of zoom extents, then release the mouse to fit the existing view extents within that box.
If the mouse being used has a mouse wheel, put the mouse cursor to the point on the map to zoom out on. Scroll the wheel away to zoom out. The direction of the Mouse Wheel zoom is controlled by the "Reverse Mouse Wheel Action" settings in Global Settings. Note that the Map Window must have the mouse focus for this to work.
Select the menu item 'Window->Zoom out on Map Center' or use the toolbar icon . The view will be adjusted to contain approximately 140% of the area of the current view.