Ishiba started his term as Prime Minister by stating that Japan’s economy isn’t ready for more Bank of Japan rate hikes.
This weekend, he backpedaled:
- “It’s important to avoid vocal intervention” in monetary policy.
- He should not appear to intervene.
- “The Bank of Japan decides policy independently.”
- “I trust the BOJ’s governor and staff to ensure price stability.”
Ishiba also commented on the economy:
- Consumption must increase to move away from deflation.
- Real wages need to be raised.