TOKYO (Reuters) - Bank of Japan Governor Kazuo Ueda will deliver a speech and hold a news conference in the central Japan city of Nagoya on Monday, the BOJ said, an event that will be closely watched by markets for hints on whether it could raise interest rates next month.

Japan's wholesale inflation accelerated in October at the fastest annual pace in more than a year as renewed yen falls pushed up import costs for some goods, complicating the central bank's decision on how soon to raise interest rates.

Japan’s economy grew at a slightly faster pace than expected, backing the case for the central bank to stay on the path toward rate hikes while also easing pressure on the government as it finalizes fiscal stimulus steps to be unveiled this month.

Bank of Japan board members discussed the need for caution on raising its benchmark rate and offered no clear hint of a move next month, a summary of opinions from its October policy meeting showed.

Bank of Japan policymakers were divided on how soon they could raise interest rates with some warning of the risk of renewed market volatility, a summary of opinions at the October policy meeting showed on Monday.

Japan's five-year government bond yield soared to a 15-year high, driven by a weakening yen and speculation of a potential interest rate hike by the Bank of Japan. The yen's decline to a five-month low against the US dollar,