[Bank of Japan Governor Kazuo Ueda: Rate Hike Possible as Inflation Target Nears] On December 25, Bank of Japan Governor Kazuo Ueda stated that the central bank is gradually approaching its 2% inflation target and reiterated its stance on potential rate hikes. He noted that a tightening labor market is driving significant changes in corporate wage and pricing behavior, with wage growth steadily bringing the 2% price stability target closer. Ueda believes the likelihood of Japan's economy returning to a state of stagnant wages and prices has significantly decreased. He further stated that if economic and price forecasts align with expectations, the central bank will make further adjustments to monetary policy to achieve the inflation target at an appropriate pace and promote long-term growth.