The Bank of Japan will raise interest rates and adjust the degree of monetary support if improvements in the economy and price conditions continue, Governor Kazuo Ueda said on Wednesday. The new U.S.

Bank of Japan Gov. Kazuo Ueda said at an event on Wednesday that the BOJ will raise rates next week if economic indicators show improvement. He added that he is aware of "many positive stories" of higher wages.

Following Ueda’s remarks, the yen strengthened as much as 0.4% to ¥157.34 against the dollar, after earlier hovering around the ¥158 level.