Japanese Prime Minister Supports Recent Rate Hike by Bank of Japan

Japanese Prime Minister Fumio Kishida supports the Bank of Japan's recent interest rate hike, which may take place in September or October. Concerns over the weak yen driving up prices, along with the government's desire to enhance the effectiveness of joint currency market interventions with the U.S., have led to a convergence of views on the necessity of a rate hike. The Prime Minister's office believes that specific monetary policy measures should be determined by the Bank of Japan, but the central bank should work closely with the government to achieve the 2% inflation target in a stable manner.

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