The Bank of Japan should pay close attention to currency levels because its efforts to hold down interest rates are weakening the yen, according to a senior member of the Japanese ruling coalition party Komeito.

“From the point of view of the economy, I understand why they are holding down interest rates,” said Keiichi Ishii, secretary-general of Komeito, the junior partner to Prime Minister Fumio Kishida’s ruling Liberal Democratic Party.

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