The Bank of Japan will debate whether to raise interest rates next week, Governor Kazuo Ueda said on Wednesday, reiterating the bank's resolve to push up borrowing costs if the economy continues to improve.

Bank of Japan Governor Kazuo Ueda strengthened speculation of a looming policy move by flagging the decision on whether to raise interest rates at next week’s meeting in a comment that strengthened the yen.

Bank of Japan Governor Kazuo Ueda said Wednesday the bank will debate whether to raise its key rate at its policy meeting next week a