Japan not pushing for low interest rates, minister says

Japan's economic policy minister stated that the government is not pushing for low interest rates. Investors are gauging whether the prime minister seeks to slow the Bank of Japan's rate hike efforts.

Economic policy minister Minoru Kiuchi stated that Japan is not pushing for low interest rates.

Investors remain focused on whether Prime Minister Sanae Takaichi aims to slow the Bank of Japan's efforts to raise borrowing costs.

The stance involves Bank of Japan Governor Kazuo Ueda and ongoing monetary policy decisions.

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A panel has called on the Bank of Japan to proceed carefully with any interest rate increases.

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Japan's Finance Minister Satsuki Katayama declined to comment on potential yen intervention. Speaking to reporters in Samarkand, Uzbekistan, on May 3, she said, 'As finance minister, at this stage I'm not in a position to comment.'

The Bank of Korea faces mounting pressure for monetary tightening after a spike in global oil prices triggered by Middle East conflict. Markets increasingly expect the benchmark rate to reach 3 percent by year-end.

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Finance Minister Satsuki Katayama has floated the idea of adding Japanese government bonds to tax-free investment accounts and reviewing the GPIF portfolio.

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