Prime Minister Shigeru Ishiba said Japan is not in an environment for an additional rate hike, in an apparent effort to shake off his reputation as a monetary hawk, after a meeting with Bank of Japan Gov. Kazuo Ueda on Wednesday.
"I do not believe that we are in an environment that would require us to raise interest rates further," Ishiba told reporters Wednesday night, adding he was not in a position to instruct the central bank on monetary policy.
"I have told the governor that I expect the economy to continue to develop sustainably while maintaining its current easing trend, and that the economy will continue to move towards overcoming deflation."
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