Japan's Prime Minister Takaichi appoints reflationists to central bank board

Japan's Prime Minister Sanae Takaichi has appointed reflationist candidates to the Bank of Japan's policy board. The appointments are seen as reflecting Takaichi's own policy views.

The yen weakened following the appointments, which signaled a potential shift toward looser monetary policy. Takaichi has also vowed to boost domestic investment and is preparing to submit consumption tax bills to the Diet.

Japanese stocks rallied to a record high after Takaichi's party secured a historic election victory. The country's public debt has reached a record 1,342 trillion yen, putting Takaichi's fiscal policy in focus.