The Bank of Japan must raise interest rates and continue phasing out a controversial stimulus program blamed for causing unwelcome yen declines, Yoshihiko Noda, leader of the Constitutional Democratic Party of Japan, said Friday.
Noda said in an interview that Japan needs to focus more on getting its fiscal house in order by ending big, crisis-mode spending and finding ways to boost tax revenues, such as by raising the capital gains tax rate.
The remarks underscore the hope of Noda's party, the second largest force in parliament, to capitalize on growing public discontent over the rising cost of living, driven partly by higher import costs from a weak yen.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.