The Bank of Japan wrapped up its two-day Policy Board meeting Tuesday by saying the benchmark short-term interest rate will remain unchanged, causing market watchers to look for any clue from Gov. Toshihiko Fukui's remarks to gauge when the next rate hike may occur.

Most investors predicted the BOJ would not raise the interest rate this month. Now they are starting to wonder if the Jan. 17-18 meeting will be the signal.

The nine-member Policy Board this time unanimously agreed to maintain the uncollateralized overnight call rate at 0.25 percent, which has been in place since the BOJ ditched the "zero-interest-rate" policy July 14.