Shigeru Ishiba Bids for LDP Leadership, Endorses Monetary Policy Shift

Shigeru Ishiba, former defense minister, announced he would run in the ruling Liberal Democratic Party leadership election on Sept 27 to succeed Prime Minister Fumio Kishida. In an interview with Reuters, Ishiba supported the Bank of Japan's gradual interest rate hikes, suggesting it could lower prices and enhance industrial competitiveness.

Shigeru Ishiba, a former defence minister, announced on Saturday his candidacy in the ruling Liberal Democratic Party leadership election on September 27. This election will determine the successor to Prime Minister Fumio Kishida, who is stepping down after a three-year tenure leading the world's fourth-largest economy.

In an exclusive interview with Reuters, Ishiba expressed support for the Bank of Japan's policy of gradually raising interest rates. He argued that the normalisation of the ultra-loose monetary policy could help reduce prices and enhance the competitiveness of Japan's industrial sector.

(With inputs from agencies.)