[Confidence of Japan’s large manufacturers rose to the highest level since 2018, which is expected to support the central bank’s continued interest rate hikes] On October 1, Japan’s large manufacturers’ confidence rose to its highest level in more than eight years, providing support for the Bank of Japan to continue to raise interest rates. The Bank of Japan's quarterly Tankan survey released on Thursday showed that the large-scale manufacturing confidence index rose to 24 from 22 in September, improving for the sixth consecutive quarter. The confidence index for large non-manufacturers fell slightly from 37 to 35. A positive index means that more companies think business conditions are "good" than "poor." The latest Tankan survey shows that Japanese companies continue to show resilience, which may further strengthen market expectations for the Bank of Japan to raise interest rates again this year.