New economic and fiscal policy minister Kaoru Yosano indicated Monday the administration will respect the Bank of Japan's decision on when to scrap its ultraloose monetary policy.
"It is the central bank's decision when (the BOJ) carries out a policy change," Yosano said at a news conference following the Cabinet reshuffle earlier in the day.
"It is appropriate that the BOJ should make a decision within the context of its independence as a central bank," he said.