Japan's exports have increased for the fourth consecutive month, providing support for the gradual interest rate hikes by the central bank.

Japan's exports have continued to increase for the fourth consecutive month. Data released by the Japanese Ministry of Finance on Thursday showed that overall exports in December increased by 5.1% year-on-year, below analysts' median forecast of 6.1%. Exports to the United States decreased by 11.1%, while exports to China increased by 5.6%. Exports to the European Union increased by 2.6%. Overall, unadjusted data showed a trade surplus of 105.7 billion yen. Imports increased by 5.3%. These data are expected to continue to support the Bank of Japan's gradual interest rate hikes. It is widely expected that the Bank of Japan will maintain interest rates unchanged on Friday after raising the benchmark rate in December last year. The central bank has stated that it will continue to raise interest rates as long as inflation and economic growth meet its expectations.