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.

Bank of Japan Deputy Governor Ryozo Himino reiterated that the central bank will raise rates if its outlook continues to be realized, while adding that there are risks both at home and abroad that require attention.

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.