Japan's Minister for Growth Strategy Urges BOJ to Clarify Rationale Behind Rate Hike

Deep News12-19 20:10

Japan's Minister for Growth Strategy, Minoru Shirota, stated that close monitoring of economic trends is necessary. The Bank of Japan (BOJ) earlier raised interest rates to 0.75%.

Shirota urged the BOJ to provide the public with a detailed explanation of the reasoning behind its rate hike decision.

While expressing respect for the BOJ's decision, Shirota emphasized the need to closely observe economic conditions, including the impact of U.S. tariff policies, persistent inflation, and financial market movements.

He stressed that it is crucial for the BOJ to implement appropriate monetary policies to achieve stable inflation alongside robust economic growth.

Shirota attended the BOJ's policy meeting, where the central bank decided to raise the benchmark rate to 0.75%, marking the highest level since 1995.

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