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PM Ishiba announces resignation, near-term bias for yen weakness?

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Key points after Ishiba's resignation announcement

Prime Minister Shigeru Ishiba announced his resignation on the evening of 7 September. He explained that the decision was aimed at avoiding division within the party, ahead of the procedure on 8 September for LDP lawmakers to formally request a leadership election. He also said his decision reflected the progress made in tariff negotiations with the US following the visit to Washington by Minister of State for Economic and Fiscal Policy Ryosei Akazawa over the weekend. The LDP will begin procedures on 8 September to hold a leadership election following Ishiba's announcement. Immediate points to watch will be (1) the rules for conducting the election, (2) the lineup of candidates and their policies, (3) new coalition talks, and (4) the timing of an extraordinary Diet session and whether the lower house will be dissolved.

 

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