Takaichi Defends Yen Policy, Approval Ratings Slump Amid Rising Living Costs

Japanese Prime Minister Sanae Takaichi defended her government's policies, saying they will boost the country's growth potential and underpin market trust in the yen. This comes as Japan's currency has hit a 40-year low due to rising inflation from the weak currency.

Takaichi made these comments in parliament on Monday when asked about the impact of her administration's policies on the yen's value.

The prime minister said that while the Bank of Japan holds jurisdiction over monetary policy, it is required by law to work closely with the government on economic policy.

Takaichi's approval ratings have slumped in recent months due to rising living costs and her administration's policies. According to a poll conducted between July 24 and 26, the approval rating for Takaichi's administration fell to 57%, down from 69% in June.