Japan PM Bets on World-Defying Inflation Policy to Win Election.
As reported by Bloomberg on July 7, 2022, via Yahoo Finance,
As politicians around the globe rush to tamp down inflation, Japan Prime Minister Fumio Kishida is betting instead that older voters in particular will look past surging prices in a crucial election on Sunday.
Kishida has endorsed the Bank of Japan’s unorthodox stance of keeping borrowing costs at rock-bottom levels even as inflation heats up and the yen has slid to a 24-year low. During the campaign for the upper house election, Kishida made the case that higher interest rates would hurt mom-and-pop shops and homeowners even more.
