Organization: Katsuo Ueda's speech may be preparing for the Bank of Japan to raise interest rates.

Overseas Chinese Bank strategists say that the betting on the Bank of Japan raising interest rates is boosting the Japanese yen, but the continued recovery of the yen will require more positive factors. Frances Cheung and Christopher Wong stated that Bank of Japan Governor Haruhiko Kuroda's speech on Monday seems to be "pre-game preparation" for a potential rate hike, making it highly likely that action will be taken in December or January. Kuroda's comments on interest rates and his statement about smooth communication with the government suggest that the Bank of Japan is prepared to act quickly. Overseas Chinese Bank expects the Bank of Japan to raise interest rates in December, but the question now is whether there will be another long wait after this move. These strategists believe that any continued recovery of the yen may require the Bank of Japan to provide stronger guidance, as well as for policymakers to demonstrate financial prudence.