Japan's incoming PM Ishiba calls for loose monetary policy

New leader considers BOJ's policy stance 'must remain accomodative'

Shigeru Ishiba, the newly elected leader of Japan's ruling party, the Liberal Democratic Party (LDP) holds a press conference after the LDP leadership election, in Tokyo on Sept. 27. © Reuters

September 29, 2024 19:09 JST

TOKYO (Reuters) -- Japan's incoming prime minister,Shigeru Ishiba, said on Sunday the country's monetary policy must remain accommodative as a trend, signalling the need to keep borrowing costs low to underpin a fragile economic recovery.

It was not immediately clear whether Ishiba, who had been a vocal critic of the Bank of Japan's past aggressive monetary easing, was taking a more dovish line with his remarks.