Japanese stocks surged over 4% on Monday and the yen fell after Sanae Takaichi was elected to lead the country's ruling party. The Nikkei 225 Index was up 4.6%, soaring to 47,852.29, after earlier passing the 46,000 mark for the first time ever. The yen fell, reaching 149.76 yen against the dollar and hitting a record low against the euro.
I think there is a reckoning coming for the central banks, not just in Britain but also in the United States, also the ECB [European Central Bank], she told Bloomberg's Odd Lots podcast. Truss, who repeatedly criticised economic orthodoxy during her brief spell in Downing Street, argued that unelected central banks were able to undermine elected politicians. It's also very difficult, as I found as prime minister, to combine fiscal and monetary policy if you don't hold one of the levers. So I think it's got to change, she said.