Japan’s economy not ready for rate hike, says prime minister
New premier’s remarks add uncertainty to BoJ’s normalisation path
Japan’s new prime minister, Shigeru Ishiba, said yesterday (October 2) that the current environment was not suitable for an additional rate rise.
His remarks, following his first meeting with the governor of the Bank of Japan (BoJ), surprised many analysts. Ishiba’s immediate predecessor, Fumio Kishida, was generally seen as supportive of the BoJ’s pivot away from ultra-loose monetary policy.
Ishiba succeeded Kishida on October 1, having won the contest to lead the ruling Liberal Democratic party
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