Arab News Japan

TOKYO: A majority of the Japanese public supports the Bank of Japan’s decision to raise the policy rate to 0.5 percent, according to a poll by Nikkei-TV Tokyo. The move lifted the rate to levels not seen since 2008.

The point increase from 0.25 percent was announced on Friday and was the BOJ’s first-rate hike since July 2024. Respondents agreeing with the increase outnumbered opponents by 54percent to 34 percent.

In the same poll, support for Prime Minister ISHIBA Shigeru’s cabinet edged up 2 percentage points from the December poll to 43 percent, reversing a decline that had continued since he took office in October.

Asked why they supported the cabinet, with multiple responses allowed, 44 percent said they trust Ishiba’s personality, while 29percent said they liked the ruling Liberal Democratic Party’s central role.

On the future of relations with the US under President Donald Trump, 50 percent said they do not expect any change, while 36percent said relations would deteriorate. A minority – 8 percent– expected some improvement.

On policies they want Ishiba to focus on, 46 percent cited controlling prices, while 32 percent said the economy in general and pensions. This was followed by employment and wages, a combined item cited by 30 percent.

Support for the LDP came to 33 percent, followed by 14 percent for the opposition Democratic Party for the People and 10percent for the Constitutional Democratic Party.