Japanese Prime Minister Sanae Takaichi's stance on monetary policy came under scrutiny when a lawmaker questioned Finance Minister Satsuki Katayama about pressuring the Bank of Japan (BOJ) to hold off on raising rates further. Although legally independent, the bank has faced political pressure to increase stimulus or halt unwanted drops in the yen with rate hikes. Katayam stated that specific monetary policy should fall under the jurisdiction of the BOJ and that she hopes the bank continues to work closely with the government to achieve ‘2% inflation driven by cost-less increases. The BOJ raised its short-term policy target to a 30-year high of 0.75% in December, with the view that Japan was on the verge of achieving its 2% inflation target.