The Bank of Japan (BoJ) will consider whether to abandon its negative interest rate policy at a meeting beginning Monday as pay hikes by large companies bring the central bank's 2% price target within reach, per Nikkei. 

BoJ policymakers are also discussing scrapping the yield curve control, which sets a reference cap for long-term interest rates to about 1%. Following that, it would continue to buy Japanese government bonds to prevent rates from rising.

Market reaction

At the time of writing, USD/JPY is trading 0.06% lower on the day at 147.65.