On Friday, Shigeru Ishiba, the country’s future prime minister, emphasized how important it is for the economy to properly recover from deflation.
He said Japan must revive consumption to break free from economic stagnation. The next administration should carefully consider how to minimize the impact of rising inflation on families.
After being victorious in the ruling party’s leadership contest and assuming the party’s de facto majority in parliament, Ishiba made the remark at a press conference.
He declared, “I will ensure Japan emerges from deflation,” pledging to quicken wage raises and other measures spearheaded by Prime Minister Fumio Kishida to increase household income.
Following Ishiba’s victory in the ruling Liberal Democratic Party’s leadership race, the yen recovered some of its earlier losses on Friday. Ishiba is a former defense minister who is viewed as a critic of previous excessive monetary stimulus.
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