BOJ Gov. Toshihiko Fukui said Friday that private consumption is "on the increase," fueling speculation the central bank may raise interest rates at its meeting next week.
"Based on a slow increase in employee salaries, private consumption is on the increase, although the pace is slow," Fukui said in remarks to BOJ branch managers in Tokyo.
At a news conference in December after the BOJ's monthly Policy Board meeting, Fukui hinted the members had put a rate hike on hold because private consumption was still weak.
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