Shigeru Ishiba, former defense minister of Japan, is all set to run in the ruling Liberal Democratic Party leadership election on September 27.
This election will determine the successor to Prime Minister Fumio Kishida, who is stepping down after three years as leader of the world's fourth-largest economy.
In a recent interview with Reuters, Ishiba expressed support for the Bank of Japan's gradually raising interest rates, stating that normalising the ultra-loose monetary policy could help lower prices and enhance industrial competitiveness.
Ishiba's decision comes after former Prime Minister Kishida stepped down in surprise, stating that he is paving the way for new leadership and future direction.
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