Japanese Prime Minister Takaichi reportedly supports the Bank of Japan moving to
raise rates sooner, with the next action possibly in September or October. The
shift BOJ reflects concern that a weak yen is pushing up prices and the
government's desire to reinforce the recent US-Japan coordinated FX
intervention; the two sides are said to be aligning on the need for near-term
hikes. The prime minister's office said monetary policy measures, including any
rate changes, remain the BOJ's decision but called for close coordination to
stabilize progress toward the 2% inflation target.
