Japanese Prime Minister Shigeru Ishiba stated on Saturday that he would refrain from intervening in monetary policy affairs, emphasizing the Bank of Japan's mandate to achieve price stability. He stressed the importance of avoiding vocal intervention in monetary policy and acknowledged the BOJ's autonomy in making policy decisions.
TOKYO - Japanese Prime Minister Shigeru Ishiba said on Saturday he would not intervene in monetary policy affairs, as the central bank is mandated to achieve price stability.
Ishiba also said strength in consumption is key to achieving a sustained exit from deflation, calling for the need for measures to boost real wages. The surprisingly blunt remarks pushed the yen lower against the dollar and cast fresh doubts over how aggressive the BOJ would be in raising rates. Governor Kazuo Ueda has signalled the bank's readiness to keep raising interest rates if economic and price developments move in line with its forecast.
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