The Bank of Japan (BOJ) will evaluate the "pros and cons" of raising interest rates at its next policy meeting, Governor Kazuo Ueda said on Monday, giving the strongest signal yet of a potential hike later this month.
The yen and bond yields rose after the remarks, leading markets to price in a roughly 80% chance of a rate hike at the Dec. 18-19 meeting, compared with around 60% last week.
In a speech to business leaders in the city of Nagoya, Ueda voiced confidence that Japan's economy will rebound from a contraction in the third quarter, with the hit from
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