Bank of Japan Gov. Kazuo Ueda joined his deputy in strengthening market expectations for a potential interest rate hike next week, boosting the yen and signaling the central bank is doing its utmost to avoid a global market crash that followed July's hike.
The governor also indicated rising confidence over wage increases after hearing encouraging views at various New Year's events and at the BOJ's recent branch managers' meeting. He was speaking at an event hosted by the Regional Banks Association of Japan on Wednesday.
That suggests one of two key elements the bank needs ahead of a rate hike is cleared, as it tries to gauge the future of U.S. economic policy as Donald Trump moves into the White House next week.
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