Japan Govt Urged to Ensure Market Credibility

Tokyo, Feb. 24 (Jiji Press)--Private-sector members of a key Japanese government panel on Tuesday called on the government to ensure market credibility through appropriate dialogue when making policy shifts.

While expressing support for the policy changes planned by Prime Minister Sanae Takaichi's administration, the private-sector members of the Council on Economic and Fiscal Policy underlined the need to closely monitor developments in financial and capital markets.

The council held its first meeting following the Feb. 8 House of Representatives election, in which the ruling Liberal Democratic Party won a landslide victory, to discuss the full-scale shift to the "responsible and proactive" fiscal policy touted by the prime minister.

In her policy speech before the Diet, the country's parliament, on Friday, Takaichi pledged to "break the long-standing trend of excessive austerity and insufficient investment for the future."

"We should not hesitate to take necessary fiscal measures," the prime minister said.

[Copyright The Jiji Press, Ltd.]