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Japan's Finance Minister Dismisses Reports of Pressure on Bank of Japan to Cut Rates

2026-07-07 02:05:08

According to Jin10 Data, Japan's Finance Minister Shigeru Shioji dismissed reports on July 7 that the government of Prime Minister Sanae Takaiichi is attempting to steer interest rates lower, calling the media reports "completely inaccurate." "Reports that the government will encourage low interest rates as part of fiscal expansion policy are groundless," Shioji said at a regular press briefing in Tokyo on Tuesday. The denial comes as financial markets closely monitor how the administration plans to implement its economic strategy through large-scale investment without further burdening Japan's already heavy debt load. Last month, the Bank of Japan raised its benchmark rate to 1%, the highest level in 31 years.

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