now is not the right time for the BOJ to raise rates by Reuters

TOKYO (Reuters) – Sanae Takaichi, one of the leading contenders to replace Japanese Prime Minister Fumio Kishida, said on Friday the Bank of Japan should hold off on further interest rate hikes to keep the country’s economic recovery intact.

“To be honest, interest rates shouldn’t be raised yet. It would make it harder to make capital expenditures. It would make it harder for young people to get home loans,” Takaichi said on his YouTube program.

The ruling Liberal Democratic Party is due to hold an election on September 27 to choose its next leader, who will become prime minister, given the party’s control of parliament. Kishida will not run in the race.