Economics

Japan’s Ishiba Appointed Premier, Pledges to Beat Deflation

New leader says will continue economic strategy of Kishida
Ishiba also calls for BOJ to maintain accommodative stance

WATCH: Shigeru Ishiba, who won the leadership election of Japan’s ruling LDP last week, was essentially confirmed as the country’s new leader.Source: Bloomberg

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By Alastair Gale and Yuki Hagiwara

September 30, 2024 at 7:30 PM EDT

Updated on

October 1, 2024 at 9:44 AM EDT

New Japanese Prime Minister Shigeru Ishiba, speaking in his first press conference as national leader, pledged to keep up efforts to decisively end deflation and called on the Bank of Japan to keep an accommodative policy to support efforts to boost prices and growth.

“The Japanese economy is on the brink of beating deflation,” Ishiba said after being voted in as prime minister by parliament on Tuesday. “We will conduct economic and fiscal management that places the highest priority on achieving this.”