Bank of Japan Deputy Governor Ryozo Himino has signaled that an interest rate hike may be on the cards at the monetary policy meeting on January 23-24, as many of the shocks to the Japanese economy and deflationary factors have been resolved.

The Bank of Japan will debate whether to raise interest rates next week, Governor Kazuo Ueda said on Wednesday, signaling its intention to take borrowing costs higher barring a Trump-driven market shock.

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.