Japan’s Incoming Minister Vows to Respect BOJ’s Autonomy

Shinjiro Koizumi, Japan’s former Environment Minister and top contender for prime minister, has pledged to respect the Bank of Japan’s (BOJ) independence in setting monetary policy if he assumes leadership.

In a recent television program, Koizumi emphasized the importance of maintaining smooth dialogue and communication between the government and the central bank.

Regarding currency market fluctuations, Koizumi expressed his disapproval of excessive volatility.

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As the son of former Prime Minister Junichiro Koizumi, the 43-year-old has emerged as a frontrunner in the Liberal Democratic Party’s (LDP) leadership race, set to take place on September 27.

The winner will become Japan’s next prime minister, given the LDP’s parliamentary majority.

Koizumi’s commitment to respecting the BOJ’s independence has garnered attention, as he seeks to lead the country and navigate its economic landscape.

His prioritization of collaboration and stability in monetary policy has resonated with supporters, cementing his position as a leading candidate in the upcoming LDP leadership race.

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