TOKYO, Jan 13: The Bank of Japan is likely to raise the benchmark rate of borrowing to 0.5 per cent from the current 0.25 per cent at its next policy board meeting later this month, news reports said on Saturday. The central bank will make its final decision after seeing fresh economic data in the coming week ahead of its next policy meeting on January 18-19, the Mainichi Shimbun and Jiji Press said in separate reports.

If governor Toshihiko Fukui proposes a rate hike at the meeting, a majority of the policy board are expected to approve it, the Mainichi Shimbun said.

—AFP