BOJ’s Ueda says wage trends key to possible rate hikes, Nikkei reports

TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said the next interest rate hikes are “nearing in the sense that economic data are on track,” the Nikkei business daily reported on Saturday.

“I would like to see what kind of momentum the fiscal 2025 shunto (spring wage negotiation) creates,” repeating his intention to keep a close eye on wage moves, Ueda told the Nikkei in an exclusive interview.

He also said “there is a big question mark left on the outlook for U.S. economic policy,” suggesting the central bank will avoid rushing to rate hikes as President-elect Donald Trump takes office in January, the report said.

The BOJ will scrutinise its policy at its Dec. 18-19 meeting, when some analysts expect it to hike rates from the current 0.25%.