Japan’s Minister of Economy and Finance refutes low interest rate rumors: government has no intention of pressuring the central bank

```htmlGolden Ten Data reported on July 7 that Japan’s Minister of Economy and Fiscal Policy, Jitsuro Kounai, stated that media reports claiming Prime Minister Sanae Takashi’s government is attempting to guide interest rates lower are completely inaccurate. Kounai said at a regular press conference in Tokyo on Tuesday: “Reports that the government will encourage low interest rates as a part of its fiscal expansion policy are unfounded. If our intentions have not been communicated accurately, we will work harder to enhance understanding.” Kounai’s remarks come as financial markets are closely watching how Sanae Takashi will implement her economic strategy through large-scale investments without adding to the country’s already heavy debt burden. Last month, Kounai attended the Bank of Japan committee meeting as a representative of the Japanese government, where policymakers raised the benchmark interest rate to 1%, the highest level in 31 years.```