Japan's potential prime minister candidate Shigeru Ishiba supports Bank of Japan rate hike

The main potential candidate for Japan's next prime minister supports the Bank of Japan's policy of gradually raising interest rates, saying that normalizing monetary policy can push down prices and improve industrial competitiveness. Shigeru Ishiba, a heavyweight of Japan's ruling party, said: "The Bank of Japan is on the right policy path, gradually aligning with the global positive interest rates." He said: "The negative impact of interest rate hikes, such as stock market crashes, has been the focus of attention at present, but we must recognize its advantages because raising interest rates can reduce import costs and make industries more competitive." (Jinshi)