Japan veteran lawmaker calls on BOJ to "start early" on interest rate hikes

Japan veteran lawmaker calls on BOJ to "start early" on interest rate hikes

• Taro Kono served as the minister for digital transformation from 2022 to 2024 and is a prominent member of the ruling LDP party

• Japan needs new economic framework in which BOJ raises rates, government restores fiscal health
• Better to start early for BOJ when it comes to rate hikes
• Japan must reverse weak yen, seek a somewhat stronger currency
• BOJ must gradually raise rates as it is undesirable to keep real borrowing costs negative for a prolonged period