Bank of Japan officials see little cost to waiting before raising interest rates while still being open to a hike next week depending on data and market developments, according to people familiar with the matter.

By scheduling the speech before the January meeting, the BOJ will have a solid opportunity to telegraph its thinking on monetary policy.

Japan's wholesale inflation accelerated for three straight months as companies continued to pass on rising raw material and labour costs, data showed on Wednesday, keeping the central bank under pressure to raise interest rates again.

Inflation in Japan’s corporate goods prices accelerated to the fastest pace in 16 months, an outcome that points to growing inflationary pressure in the economy and supports the central bank’s further normalization of policy.