Takaichi, likely to become prime minister this month, has previously supported aggressive monetary easing and expanded government spending, echoing her mentor former premier Shinzo Abe.
After winning the top job, Takaichi pledged to first implement measures addressing inflation and boosting the economy, rural areas and primary industries like farming and fisheries.
“Still, with inflation rising and long-term (bond) yields climbing, she will have to balance her stance with reality, in order not to accelerate cost-of-living squeeze and jolt the rate market,“ Kimura said.
Yields on 30-year Japanese bonds rose sharply, reflecting fears the country’s already colossal debts will balloon further under Takaichi.
One of her first official duties will be receiving US President Donald Trump, reportedly making a stopover in Japan in late October.
The heavy metal drummer in her youth saw off four other candidates to become head of the Liberal Democratic Party.
Takaichi’s primary task will be restoring the fortunes of the LDP, which has governed almost non-stop since 1955.
One party on the rise is Sanseito, which echoes other populist movements calling immigration a “silent invasion” despite foreign-born residents comprising only around three percent of the population.
Japan should “reconsider policies that allow in people with completely different cultures and backgrounds,“ Takaichi said during the LDP campaign. – AFP
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