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Japanese Prime Minister Expresses Concerns Over Interest Rate Hikes

24/02 15:53

Japanese Prime Minister Sanae Takaichi has reportedly expressed concerns about further interest rate hikes during a meeting with Bank of Japan Governor Kazuo Ueda last week. According to ChainCatcher, if these reports are accurate, Takaichi's recent refusal to raise rates again could complicate the Bank of Japan's plans, making coordination with the newly appointed government more challenging. Following the report, the yen weakened against both the dollar and the euro. Ueda stated that the meeting on Monday primarily involved general discussions about the economic and financial situation, and the Prime Minister did not make any specific monetary policy requests. Takaichi herself avoided discussing the details of their meeting, only expressing her hope for close cooperation between the central bank and the government to achieve a 2% inflation target accompanied by wage growth. The meeting took place amid market speculation that rising living costs, driven by the yen's weakness, might prompt the Bank of Japan to consider interest rate hikes in March or April.

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