MNI: PBOC Net Injects CNY369.2 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1415; +1.18% Y/Y

RBNZ MPC SAYS BALANCE OF RISKS "SHIFTED SINCE MAY"

MNI: PBOC Sets Yuan Parity Lower At 7.1415; +1.18% Y/Y

CHINA PBOC CONDUCTS CNY369.2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1415 WEDS VS 7.1479

Industrial Production M/M Likely to Be Skewed Lower by Ireland

MNI: FRANCE JUL HICP +0.2% M/M, +2.7% Y/Y

Volatile components drive CPI surprise; underlying print not that soft

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Kishida Confirms Resignation After Sep Election Of New LDP Leader

JAPAN
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsBank of Japan (BOJ) Market NewsPolitical Market News

Following our earlier reporting (see 'JAPAN: Prime Minister Kishida Not To Seek Second Term', 0249BST), Prime Minister Fumio Kishida has now confirmed that he will step down from office in September after the governing Liberal Democratic Party (LDP)'s election of a new party president.

  • At a presser in Tokyo earlier today, Kishida said "In the upcoming presidential election, it's necessary to show the people that the Liberal Democratic Party will change...A transparent and open election and free and open debate are important. The first easy-to-understand step that indicates that the LDP will change is for me to step back,"
  • Since coming to power in Oct 2021 Kishida has struggled to keep his head above water when it came to approval ratings. Kishida's record on defence and foreign policy has been welcomed by the West with regard to support for Ukraine and developing closer relations with South Korea.
  • However, in late 2023 a major funding scandal broke out. Prosecutors investigated whether LDP parliamentarians received money from off-book slush funds associated with party fundraising events. Four cabinet ministers, five senior vice-ministers and a parliamentary vice-minister, all from the powerful faction related to the late Shinzo Abe, were forced to resign.
  • The scandal has tarnished Kishida's image, and indeed is a major threat to continued party support.
  • Foreign policy hawk Shigeru Ishiba, who previously served as defence minister, leads in next leader opinion polling with ~25% support. Former Environment Minister Shinjirō Koizumi is consistently second with ~14% support. There are then five other potential candidates with support in the mid-single digits.
256 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.

Following our earlier reporting (see 'JAPAN: Prime Minister Kishida Not To Seek Second Term', 0249BST), Prime Minister Fumio Kishida has now confirmed that he will step down from office in September after the governing Liberal Democratic Party (LDP)'s election of a new party president.

  • At a presser in Tokyo earlier today, Kishida said "In the upcoming presidential election, it's necessary to show the people that the Liberal Democratic Party will change...A transparent and open election and free and open debate are important. The first easy-to-understand step that indicates that the LDP will change is for me to step back,"
  • Since coming to power in Oct 2021 Kishida has struggled to keep his head above water when it came to approval ratings. Kishida's record on defence and foreign policy has been welcomed by the West with regard to support for Ukraine and developing closer relations with South Korea.
  • However, in late 2023 a major funding scandal broke out. Prosecutors investigated whether LDP parliamentarians received money from off-book slush funds associated with party fundraising events. Four cabinet ministers, five senior vice-ministers and a parliamentary vice-minister, all from the powerful faction related to the late Shinzo Abe, were forced to resign.
  • The scandal has tarnished Kishida's image, and indeed is a major threat to continued party support.
  • Foreign policy hawk Shigeru Ishiba, who previously served as defence minister, leads in next leader opinion polling with ~25% support. Former Environment Minister Shinjirō Koizumi is consistently second with ~14% support. There are then five other potential candidates with support in the mid-single digits.