Shigeru Ishiba elected as president of the Liberal Democratic Party and will take over as Japanese prime minister
Cailian News Agency, September 27:
Shigeru Ishiba, former secretary-general of the Liberal Democratic Party of Japan, won the majority of votes in the second round of voting for the Liberal Democratic Party presidential election on the afternoon of September 27 local time and was elected as the new president of the Liberal Democratic Party. The term of the current Japanese Prime Minister Fumio Kishida as president of the Liberal Democratic Party will end on September 30. As usual, the new president of the Liberal Democratic Party, Shigeru Ishiba, will be nominated by the Diet on October 1 and is expected to take over as prime minister. Shigeru Ishiba is 67 years old and this is his fifth time running for party leader. He worked in a bank in his early years. In his 38 years in politics, he has been involved in agriculture, security, local revitalization and other fields. He has served as secretary-general of the Liberal Democratic Party and chairman of the policy research committee, and is known as a "policy expert".
Shigeru Ishiba advocates the normalization of monetary policy, that is, ending Japan's long-term negative interest rate policy, which will increase the probability of the Bank of Japan raising interest rates.
Forward bearish risk assets.
The extent of the impact depends on the size of the stock of yen arbitrage funds and the degree of the unexpectedness of the interest rate hike.
Nikkei 225 futures fell 5% on the day.
Futures market expectations for the Bank of Japan's rate hike have already risen
