Japan's new leader Shigeru Ishiba appointed a proponent of former premier Shinzo Abe's "Abenomics" policies as finance minister on Tuesday, in an apparent balancing act to alleviate concerns over the next cabinet's economic strategy.

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.