Bank of Japan Governor Kazuo Ueda reassured Prime Minister Shigeru Ishiba that the central bank is committed to supporting Japan’s economy during a meeting on Wednesday. Ueda emphasized that the BOJ will proceed cautiously when considering any further interest rate hikes.
This meeting marked Ueda’s first discussion with Ishiba since the prime minister’s official appointment by parliament. Ishiba has been vocal about the importance of maintaining accommodative monetary policy to combat economic stagnation.
“I informed the prime minister that we are implementing loose monetary measures to bolster the economy,” Ueda stated to the press following their meeting at the prime minister’s residence.
With both leaders emphasizing the need for continued economic support and stability, the collaboration between the government and the central bank signifies a united effort to promote growth and sustainability in Japan’s financial landscape.