the yen

The Bank of Japan has signalled that it may raise interest rates sooner than markets had anticipated. The move marks another step away from Japan's long-running ultra-loose monetary policy, and investors are likely to reassess their expectations for the yen, bond yields and Japanese equities as the possibility of an earlier hike firms up.

A former Bank of Japan official says an interest rate hike at the central bank's October meeting is a real possibility, Bloomberg reports. The comment adds to speculation over when the BOJ will raise rates further, a decision closely watched by global markets given its impact on the yen and international borrowing costs.

A former Bank of Japan executive has said the central bank could raise interest rates again in the near term, adding to speculation about the pace of Japan's exit from decades of ultra-loose monetary policy. Markets and analysts are watching closely, as further hikes by the Bank of Japan would affect the yen, bond yields and global carry trades.

NTT Docomo will raise the monthly fee for its budget mobile brand ahamo from December, with an increase of just 165 yen. Older OCN Mobile ONE plans will also be affected. The small size of the hike is drawing attention, with observers suggesting Docomo is keeping the rise modest to avoid pushing customers toward rival low-cost carriers such as Rakuten Mobile or others.