Japan’s Motegi Joins LDP Race, Says BOJ Should Keep Normalizing

Toshimitsu Motegi, Japan's former Foreign Minister, has entered the ruling Liberal Democratic Party (LDP) leadership race. Motegi stated that he expects the Bank of Japan (BOJ) to continue its gradual move away from the country's ultra-loose monetary policy, while promising to provide more financial support to regional areas to address the issue of inflation. Motegi's stance on the BOJ's policy normalization is in contrast to the views of some other candidates, who have called for the central bank to maintain its current stimulus measures. The former Foreign Minister also emphasized the need to address regional disparities and provide additional funding to deal with the rising cost of living. Motegi's entry into the race adds another contender to the mix, as the LDP prepares to elect a new leader who will subsequently become Japan's next Prime Minister. The outcome of the leadership contest could have significant implications for the country's economic and monetary policy direction.