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New Prime Minister Fumio Kishida faces many economic challenges, not least the impact of the pandemic. However, major policy changes are not expected, at least in the short term.
The central bank decided to set short-term interest rates at minus 0.1% while guiding 10-year government bond yields around 0% to keep borrowing costs low for companies and households.
The ruling party's leadership candidates stand apart on how to revive the nation's pandemic-hit economy.
...if we listened more? could the right voice, the right set of words, bring us all just a little closer, get us to open up, even push us further? it could. if we took the time to listen. the most inspiring minds. the most compelling stories. download audible. and listen for a change. now for our what in the world segment. this month on a trip to tokyo, imf chief christine lagarde had a message for shinzo abe of japan. abenomics aimed at boosting growth desperately needs revamping. that's because the japanese population is aging
Expected to hold onto a clear majority. the main opposition is led by 65-year-old kaieda. many don't understand why it was called for, especially during a time of recession. cnn's will ripley is back in tokyo. maybe you can shed light on the situation. >> reporter: yeah, people wonder, holding an election is expensive. you're talking hundreds of millions of dollars when japan is trying to pay off its debt which is twice the size of its economy. also at the time frankly when there are questions about the abenomics. at a time when there are questions and a fair share of stumbles, from the previo...