Takaichi Asks BOJ to Boost Bond Buying Amid Rising Interest Rates

Japanese Prime Minister Sanae Takaichi has asked the Bank of Japan (BOJ) to increase its bond buying if necessary, according to reports from Jiji news agency.

The request was made during a meeting between Takaichi and BOJ Governor Kazuo Ueda in May. Takaichi reportedly called on Ueda to take 'appropriate steps to stabilise markets' and increase bond buying if needed, as long-term interest rates were rising.

Ueda replied that the BOJ needs to consider the market reaction to such measures, but that the central bank will respond when circumstances require. The government was not immediately available to comment on the matter.

The BOJ began slowing its bond buying in July 2024 as part of a plan to wean the economy off massive stimulus and breathe life back into a market made dormant by its huge presence.