Japan's central bank should maintain ultra-low interest rates to support economic recovery, says Sanae Takaichi

According to Odaily Planet Daily, Japan's Minister of Economic Security and the main candidate for the ruling Liberal Democratic Party presidential election, Sanae Takaichi, said on Saturday that the Bank of Japan should maintain ultra-low interest rates to support the fragile economic recovery.

“Frankly, it’s too early,” she told a news conference that brought together the nine candidates running in the race when asked about the Bank of Japan’s plans for rate hikes this year. “Interest rates should remain low,” she added.

The Bank of Japan abandoned negative interest rates in March and raised its short-term rate to 0.25% in July as it believed the economy was on track to achieve its 2% inflation target on a lasting basis.