By Leika Kihara

YOKOHAMA () -The Bank of Japan will debate whether to raise interest rates at its policy meeting next week based on its new quarterly growth and inflation forecasts, Deputy Governor Ryozo Himino said on Tuesday.

In a speech to business leaders in the city of Yokohama, Himino said various surveys and reports from the central bank’s regional branches had heightened hopes that wage growth would remain strong this year.

He also said the U.S. economy was likely to remain strong for the time being, and the “broad direction” of U.S. economic policy would likely become clear in President-elect Donald Trump’s inaugural address on Jan. 20.

“The board will discuss whether to raise interest rates next week and reach a decision, based on the economic and price projections laid out in our quarterly outlook report,” Himino said.

The BOJ will conclude a two-day policy meeting on Jan. 24 and release an outlook report with fresh quarterly growth and inflation forecasts.