A Japanese daily reports the Bank of Japan is mulling an interest rate hike this month.

The Yomiuri Shimbun said Tuesday that the Japanese central bank is leaning toward raising rates following a rosier economic forecast for the near-term.

The bank last raised its benchmark rate to a quarter-percent in July after keeping rates at virtually zero for six years.

The daily said that the bank will review economic data next week and make a final decision at its financial policy meeting on January 17th and 18th after discussing the matter with the Japanese government and ruling party.

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