Business sentiment for big manufacturers remained optimistic in the Bank of Japan's latest "tankan" survey released Monday, fueling market speculation the central bank will raise the interest rate as early as next month.
The BOJ's quarterly survey showed that business confidence for large manufacturers stayed positive at 23, following a fall from 25 to 23 in the January-March period.
The index for large manufacturers is projected to drop to 22 for the next quarter through September, the BOJ said.