It has been pointed out that an aide to Prime Minister Takaichi Sanae (高市早苗) is considering using the right to request postponement of a vote as a means of stopping a Bank of Japan rate hike. The idea had reportedly been raised from time to time since the administration was formed last October and was also discussed before the BOJ’s June policy meeting.
Minister of State for Economic and Fiscal Policy Jōnai Minoru (城内実), an aide to the prime minister, is said to have stated that he was considering exercising the right to request postponement of a vote as a means of stopping a Bank of Japan rate hike. This has raised the possibility that the government could request a postponement of a BOJ vote.
Government representatives may attend BOJ policy meetings as observers, in addition to the governor, two deputy governors and 9 Policy Board members, and the law provides the government with the right to request postponement of a vote. The actual exercise of this right is considered highly unusual.
The topic has surfaced intermittently in discussions since the Takaichi administration was formed and is attracting attention as part of developments concerning the relationship between the government and the BOJ.