Bank of Japan Under Pressure to Hike Rates Amid Weak Yen Crisis

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2025-08-20 02:06:02

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The Bank of Japan faces mounting pressure to raise interest rates as the weak yen devastates household purchasing power. Veteran lawmaker Taro Kono has publicly demanded tighter monetary policy, warning that negative real interest rates can no longer be tolerated. Despite the BOJ's January rate hike to 0.5%, inflation remains stubbornly above 2% for three consecutive years.

Governor Kazuo Ueda's hesitation, attributed to potential U.S. tariff pressures under Trump's new administration, draws increasing criticism. The yen's continued weakness has created a cost-of-living crisis, with millions struggling to keep pace with rising prices. "I feel like rate hikes have already come too late," Kono stated, signaling growing political impatience with central bank caution.

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