Japanese Prime Minister Takaichi has expressed support for the Bank of Japan's near-term rate increase, with the next move likely in September or October. According to ChainCatcher, the BOJ is worried that a weak yen is pushing up prices, and the government and central bank are now moving closer on the need to tighten. The prime minister's office said specific monetary policy steps should be decided by the BOJ, but the two sides should cooperate closely to "stably" achieve the 2% inflation target.
Japanese Prime Minister Takaichi has backed the Bank of Japan's plan to raise interest rates soon, with the next hike likely coming in September or October. The BOJ is concerned that a weak yen is pushing up import prices, and the government has now aligned with the central bank on the need for higher rates.
The prime minister's office said specific monetary policy measures should be left to the BOJ. Still, the two sides should cooperate closely to "stably" achieve the 2% inflation target, according to ChainCatcher.
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