The new Japanese Prime Minister may not necessarily actively support the Central Bank's interest rate hike, suggesting that the probability of a rate hike at the end of the month is not high.

Jinshi Data October 2nd News, Japanese Minister of Economy Akazawa Akira said that Japanese Prime Minister Shizuka Ishiba does not necessarily actively support the Central Bank of Japan’s interest rate hike, which highlights the Japanese government’s opposition to prematurely raising borrowing costs. Akazawa Akira’s remarks imply that the Japanese government is sending a signal to the Governor of the Central Bank of Japan, Haruhiko Kuroda, opposing the premature increase in borrowing costs. Akazawa is known for his close relationship with Ishiba Ichiro. This may reinforce the market’s view that there is little possibility of an interest rate hike by the Central Bank of Japan at the policy committee meeting at the end of this month.