Japan's Ishiba Rules Out BOJ Interest Rate Hikes For Now.

Japan's Prime Minister Shigeru Ishiba stated that the economy is not yet ready for further interest-rate hikes, causing the yen to weaken. Ishiba emphasized the need for sustainable progress in the economy and the continuation of monetary easing to combat deflation. The comments from Ishiba's new government suggest a reluctance to raise borrowing costs and a focus on eradicating deflation. The market response to these comments may lead to a slowdown in the pace of rate hikes by the Bank of Japan. [Extracted from the article]