A member of parliament in the Liberal Democratic Party added his voice to those calling for the Bank of Japan to tighten monetary policy to bolster the yen.
"Now the economy is with inflation and interest rates, so we should have new economic policies,” Taro Kono said in a news conference Wednesday. "Now what we need is tight monetary policy to bring the yen stronger.”
Kono’s remarks come after several prominent executives made similar pleas. Takeshi Niinami, speaking as chair of the Japan Association of Corporate Executives, said last week that the weak yen is hurting households by driving up costs. "Every tariff issue will be settled and then I believe the BOJ must increase interest rates,” said Niinami, who is also chief executive officer of Suntory Holdings.
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