Key members of Prime Minister Sanae Takaichi＊s government wouldn＊t try to stop the Bank of Japan if it decides to raise interest rates in December, according to people familiar with the matter, a stance that makes a move more likely.

Still, there are some senior officials who oppose that timing, the people added.

The comments come amid heightened speculation that the BOJ will increase the benchmark rate to 0.75% at the end of its next policy meeting on Dec. 19, following remarks from Gov. Kazuo Ueda on Monday.

The yen strengthened after the news to briefly touch ?154.77 against the dollar from around ?155.04 immediately beforehand.

The governor said at the Monday briefing in Nagoya that the bank would consider whether to raise interest rates at the upcoming meeting, a phrase seen as a clear signal that a rate hike is a strong possibility. Ueda used a similar formulation to help telegraph a rate increase earlier this year in January.

On the following day, Japan＊s finance and economy ministers didn＊t express any objections at their news conferences to Ueda＊s comments. Finance Minister Satsuki Katayama said she expected the central bank to appropriately conduct policy toward achieving its 2% inflation goal, and that the specific methods used were up to the BOJ.

While the central bank is independent from the government, under a 2013 joint accord they agreed to strengthen their policy coordination to overcome deflation and achieve sustainable economic growth.

Takaichi is seen as an advocate of monetary easing and her ascent to the prime ministership generated earlier speculation that she might want to try to influence the central bank to raise rates at a slower pace.

Reuters reported earlier Thursday that the central bank is likely to raise interest rates this month and that the government would tolerate the move, citing three government sources.

Following the Bloomberg news on Thursday, overnight-indexed swaps were showing a 87% likelihood of a move this month, compared with around 58% at the end of last week.