TOKYO (Kyodo) -- Bank of Japan Deputy Governor Ryozo Himino said Tuesday that board members will discuss whether to hike interest rates at a meeting later this month, in unusually detailed remarks suggesting a policy shift may be imminent.

The decision at the two-day meeting slated to start on Jan. 23 will be based on the outlook compiled in the central bank's report on prices and the economy, Himino, a former commissioner of the Financial Services Agency, said in a speech.

Reiterating the bank's stance that it will further tighten monetary policy if the economy moves in line with expectations, Himino also expressed optimism about the country's wage trends during the address in Yokohama near Tokyo.

"I hope to see strong wage hikes in fiscal 2025 as we did in fiscal 2024, given the high ratio of firms reporting favorable business conditions, strong corporate profits, low labor share ratio" and "accelerating labor shortages," among other factors, he said.

Himino highlighted positive statements about pay increases made by various business leaders since the beginning of the year, while stressing that surveys indicate planned wage hikes are generally at or above the levels recorded a year ago.

Economic trends and prices have been moving in line with central bank expectations and "there is an increasing certainty" that they will continue to do so, the deputy chief said at a press conference.

The comments followed BOJ Governor Kazuo Ueda's observation last month that he planned to study additional data to assess whether the ongoing wage hike momentum is being maintained before deciding on any adjustment from the current rate level of around 0.25 percent.

Many economists, meanwhile, expect the next rate hike could come this month or in March, but Himino cautioned about how policies driven by the new U.S. administration under President-elect Donald Trump may affect the global economy.

"We just need to continue monitoring" the impact on the economy of the policies of the new U.S. administration, but Trump's address at his Jan. 20 inauguration address "will give us an idea of the broad direction" of those policies, he said, adding he expects the U.S. economy to remain robust.

While emphasizing the importance of effective communication about the BOJ's processes, he said, "This does not mean that the outcome of each monetary policy meeting should be telegraphed in advance so that it can be fully priced in by the market."