CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

JAPAN: Ishiba Looks Set For Re-Election As PM Despite Loss Of Majority

JAPAN
Homepagemarkets-real-timeAPACJapanPolitical Risk BulletBulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

It appears increasingly likely that Shigeru Ishiba will be able to secure re-election as prime minister later in November despite his Liberal Democratic Party (LDP)-Komeito coalition losing its majority in the 27 Oct general election. A special session of the House of Representatives is expected to begin on 11 November. There, lawmakers will vote to confirm the PM. If no single candidate achieves an overall majority, the two with the most votes go to a run-off where the individual gaining the most votes becomes PM. 

  • The third-largest party in parliament, the libertarian Ishin no Kai, has indicated that it is disinclined to back Yoshihiko Noda, leader of the main opposition centre-left Constitutional Democratic Party (CDP). The fourth-largest party, the centrist Democratic Party for the People (DPP), confirmed on 31 Oct that it would vote for its leader Yuichiro Tamaki for PM.
  • Given the stance of Ishin and the DPP, Ishiba is likely to be able to rely on ~219 votes (LDP, Komeito, former LDP independents) compared to 148 for the CDP. This should ensure his re-election (in the short term at least, there remains the prospect of an internal LDP leadership challenge given the party's disastrous election performance).
  • While they will not be able to form a coalition gov't, the CDP's Noda and DPP's Tamaki will meet as early as 5 Nov to discuss joint policy positions. This could see the two form an opposition alliance that could see them wield more influence in parliamentary affairs. 
246 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.

It appears increasingly likely that Shigeru Ishiba will be able to secure re-election as prime minister later in November despite his Liberal Democratic Party (LDP)-Komeito coalition losing its majority in the 27 Oct general election. A special session of the House of Representatives is expected to begin on 11 November. There, lawmakers will vote to confirm the PM. If no single candidate achieves an overall majority, the two with the most votes go to a run-off where the individual gaining the most votes becomes PM. 

  • The third-largest party in parliament, the libertarian Ishin no Kai, has indicated that it is disinclined to back Yoshihiko Noda, leader of the main opposition centre-left Constitutional Democratic Party (CDP). The fourth-largest party, the centrist Democratic Party for the People (DPP), confirmed on 31 Oct that it would vote for its leader Yuichiro Tamaki for PM.
  • Given the stance of Ishin and the DPP, Ishiba is likely to be able to rely on ~219 votes (LDP, Komeito, former LDP independents) compared to 148 for the CDP. This should ensure his re-election (in the short term at least, there remains the prospect of an internal LDP leadership challenge given the party's disastrous election performance).
  • While they will not be able to form a coalition gov't, the CDP's Noda and DPP's Tamaki will meet as early as 5 Nov to discuss joint policy positions. This could see the two form an opposition alliance that could see them wield more influence in parliamentary affairs.