Japan's top candidate for prime minister warns: Don't rush to raise rates

Odaily Odaily News: Sanae Takaichi, Japan's Minister of Economic Security and a leading candidate for the ruling Liberal Democratic Party presidential election, said on Saturday that the Bank of Japan should maintain ultra-low interest rates to support the fragile economic recovery. When asked about the Bank of Japan's plans to raise interest rates this year, she said at a press conference that brought together the nine candidates running in the election: "Frankly, it's too early." She added, "Interest rates should remain low." As the Bank of Japan believes that the economy is moving towards a lasting 2% inflation target, the central bank abandoned negative interest rates in March this year and raised short-term interest rates to 0.25% in July. (Jinshi)