MNI BRIEF: China To Step Up Trade Bloc Negotiations

MNI BRIEF:Monpol Alone Can't Mitigate Global Tensions-ECB Knot

MNI BRIEF: Yuan's Global Payment Share Falls Again In October

MNI: PBOC Net Injects CNY141.9 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1934 Thurs; -0.93% Y/Y

CHINA PBOC CONDUCTS CNY470.1 BLN VIA 7-DAY REVERSE REPOS THURS

MNI: FRANCE NOV MANUF SENTIMENT AT 97

MNI: UK OCT PSNCR GBP11.13 BN

EZ/UK Bond Supply Calendar: Spain, France Auction; UK Tender

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JAPAN: Ishiba Formally Elected PM, Unveils New Cabinet

JAPAN
Homepagemarkets-real-timeAPACPolitical RiskJapanPolitical Risk BulletBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Shigeru Ishiba has been confirmed as Japan's new prime minister following a vote in parliament and his appointment by Emperor Naruhito. The new PM is set to hold an inauguration press conference shortly following the unveiling of his Cabinet, which includes close allies in key positions. Former Minister of Defence Takeshi Iwaya becomes foreign minister, while former Director-General of the Japan Defense Agency and Defence Minister Gen Nakatani takes up the ministerial role at the defence ministry once again. Both Iwaya and Nakatani were key supporters of Ishiba's run for the leadership of the governing Liberal Democratic Party (LDP). No figures involved in the LDP slush fund scandal have been appointed to ministerial roles. 

  • In a careful balancing act, Ishiba has sought to put allies into key positions while ensuring elder statesmen have a prominent role, even if they are seen as political adversaries. Former PMs Taro Aso and Yoshihide Suga have been appointed 'supreme advisor' and LDP vice president respectively. In the LDP leadership contest, Aso backed Sanae Takaichi while Suga endorsed Shinjiro Koizumu.
  • Ishiba is set to call a snap general election for 27 October, with the dissolution of parliament likely to come at the end of its current session on 9 October.
  • As Kyodo News reports, "Ishiba has indicated he will not deviate from the economic policy implemented by Kishida, who focused on boosting wages. The incoming prime minister has emphasized it is vital for Japan to promote robust wage growth as private consumption lacks vigor, saying the Bank of Japan should maintain accommodative monetary conditions." 
259 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Shigeru Ishiba has been confirmed as Japan's new prime minister following a vote in parliament and his appointment by Emperor Naruhito. The new PM is set to hold an inauguration press conference shortly following the unveiling of his Cabinet, which includes close allies in key positions. Former Minister of Defence Takeshi Iwaya becomes foreign minister, while former Director-General of the Japan Defense Agency and Defence Minister Gen Nakatani takes up the ministerial role at the defence ministry once again. Both Iwaya and Nakatani were key supporters of Ishiba's run for the leadership of the governing Liberal Democratic Party (LDP). No figures involved in the LDP slush fund scandal have been appointed to ministerial roles. 

  • In a careful balancing act, Ishiba has sought to put allies into key positions while ensuring elder statesmen have a prominent role, even if they are seen as political adversaries. Former PMs Taro Aso and Yoshihide Suga have been appointed 'supreme advisor' and LDP vice president respectively. In the LDP leadership contest, Aso backed Sanae Takaichi while Suga endorsed Shinjiro Koizumu.
  • Ishiba is set to call a snap general election for 27 October, with the dissolution of parliament likely to come at the end of its current session on 9 October.
  • As Kyodo News reports, "Ishiba has indicated he will not deviate from the economic policy implemented by Kishida, who focused on boosting wages. The incoming prime minister has emphasized it is vital for Japan to promote robust wage growth as private consumption lacks vigor, saying the Bank of Japan should maintain accommodative monetary conditions."