Prime Minister Shigeru Ishiba’s recent comment opposing interest rate hikes by the Bank of Japan has surprised the financial market as he was seen as in favor of interest rate hikes.
The market is stunned by Ishiba’s statement, which was critical of Abenomics, the economic policy mix of late former Prime Minister Shinzo Abe, which included massive monetary easing.
Ishiba has long criticized the side effects of the BOJ’s prolonged large-scale monetary easing, saying that “the Japanese economy will not be healed with unprecedented monetary easing.”
