Japan's newly appointed economy minister, Ryosei Akazawa, said on Wednesday that Prime Minister Shigeru Ishiba expects the Bank of Japan to make careful economic assessments when raising interest rates again.

Japan’s Prime Minister Shigeru Ishiba doesn’t actively support interest rate hikes from the Bank of Japan, the country’s economic revitalization minister said, underscoring the government’s stance against premature increases in borrowing costs.

Japan’s new Prime Minister Shigeru Ishiba pledged to stick to the vital Japan-U.S. alliance while calling for it to be more equitable after he took office Tuesday vowing to tackle a slow economy and regain public trust before an upcoming election.