BOJ Should Weigh Rate Hikes With Caution, New Minister Warns
- Economic Revitalization Minister Akazawa strikes cautious note
- Comment suggests Ishiba’s cabinet wary of further rate hikes
Photographer: Yuichi Yamazaki/AFP/Getty Images
The Bank of Japan should exercise caution when considering further interest rate hikes to ensure the country truly defeats deflation, according to Japan’s incoming Minister for Economic Revitalization Ryosei Akazawa.
Akazawa spoke to reporters after new Prime Minister Shigeru Ishiba’s cabinet was officially announced. Akazawa is known for his close ties to Ishiba, who won the ruling party’s closely contested leadership race last week.