Takaichi Defends Yen-Boosting Policies Amid Slumping Approval Ratings

Japanese Prime Minister Sanae Takaichi defended her administration's policies as a way to boost Japan's growth potential and strengthen the yen, despite its recent slump to a 40-year low.

Takaichi said that the government's efforts would lead to market trust in the yen, countering views that the weak currency is causing rising living costs and hurting her approval ratings.

Her administration's approval rating has slumped to 57%, down from 69% in June, with a significant increase in those disapproving of her policies on combating rising costs of living.

Takaichi's expansionary fiscal and monetary policy bias has caused bond yields to spike and the yen to slump to four-decade lows, putting pressure on the government's decision-making.