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Japan’s newly appointed economy minister, Ryosei Akazawa, expressed on Wednesday that there is uncertainty regarding Prime Minister Shigeru Ishiba’s stance on potential interest rate hikes by the Bank of Japan (BOJ). Akazawa emphasized the importance of guiding Japan out of deflation as a primary goal, noting that this process may require some time. He also highlighted that Ishiba’s previous statements regarding monetary policy normalization were contingent on various factors.

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