![BoJ Ueda](https://images.forexlive.com/images/BoJ%20Ueda_id_0842688a-2773-43af-b7ff-654ee9bfad72_size900.jpg)
The yen jumped on a report that the BOJ will discuss a 15 bps hike rather than the 10 bps hike the market has been contemplating. That would take rates from 0.10% to 0.25%.
Translation of the key parts:
Some board members believe that the risk of yen depreciation pushing up prices should be closely monitored. According to related parties, the BOJ is expected to discuss additional interest rate hikes at the meeting on the 31st.
Specifically, they are expected to discuss proposals such as raising the policy rate, which is currently around 0% to 0.1%, to around 0.25%.
However, there are cautious opinions among the board members that, given the ongoing negative real wages, the consumption trend should be further observed. They will make a final decision after analyzing the latest economic data.
It also says that in addition, the BOJ will decide on a specific plan to reduce government bond purchases.
The yen initially jumped on this report but has mostly bounced back, at least so far.
USD/JPY 1 minute chart:
![USDJPY 1 min](https://images.forexlive.com/images/USDJPY%201%20min_id_593ebb4c-3617-4164-b807-8e96cdb14296_original.jpg)
USD/JPY 1 min