Shinjiro Koizumi, Japan’s former Environment Minister and a leading candidate to become the country’s next prime minister, has pledged to respect the independence of the Bank of Japan (BOJ) in setting monetary policy if he is elected.
In a televised interview on BS 11 on Wednesday, Koizumi emphasized the importance of maintaining the central bank’s autonomy, saying, “I will respect the Bank of Japan’s independence.” He added that his focus would be on ensuring smooth dialogue and communication between the government and the BOJ.
Regarding currency market volatility, Koizumi expressed his disapproval of excessive fluctuations, stating that they are “undesirable.”
As the son of former Prime Minister Junichiro Koizumi, the 43-year-old Shinjiro Koizumi is considered a top contender in the Liberal Democratic Party’s (LDP) leadership race, scheduled for September 27. The winner of the LDP race will become the next prime minister due to the party’s control of parliament.
According to a poll conducted by the Nikkei newspaper on August 21-22, Koizumi is the most favored candidate to become the next LDP leader, followed closely by former Defence Minister Shigeru Ishiba.
The LDP’s new leader will be appointed prime minister at an extraordinary parliament session in early October, making Koizumi’s commitment to respecting the BOJ’s independence a significant factor in his campaign.
