As politicians around the globe rush to tamp down inflation, Japan Prime Minister Fumio Kishida is betting instead that older voters in particular will look past surging prices in a crucial election on Sunday.
Kishida has endorsed the Bank of Japan’s unorthodox stance of keeping borrowing costs at rock-bottom levels even as inflation heats up and the yen has slid to a 24-year low. During the campaign for the upper house election, Kishida made the case that higher interest rates would hurt mom-and-pop shops and homeowners even more.
