Ruling Liberal Democratic Party (LDP) big gun Shigeru Ishiba is viewed as a prime potential candidate for Japan's next prime minister. He has publicly endorsed the Bank of Japan's policy of gradually raising interest rates:

  • Bank of Japan is on the right policy track to gradually align with a world with positive interest rates
  • "The negative aspects of rate hikes, such as a stock market rout, have been the focus right now, but we must recognise their merits, as higher interest rates can lower costs of imports and make industry more competitive"

The LDP holds a leadership election in September.

That headline comes via Japanese media, Nikkei (which does tend to get a bit of a heads up from time

USD/JPY is higher in early Tokyo trade. Around 144.95 as I post.