Japanese Chief Cabinet Secretary Yoshihide Suga formally announced to run for leadership of the ruling Liberal Democratic Party, to become the next Prime Minister as Shinzo Abe steps down. Suga, a favorite of the LDP and financial markets, pledged that he would “maintain and push forward” with the “Abenomics” pursued by Abe. He also pledged to maintain the current relationship with BoJ.
A slimmed-down election with members of the parliament would be held on September 14. Suga’s main competition comes from former defence minister, Shigeru Ishiba, and ex-foreign minister Fumio Kishida. In particular Ishiba is so far seen has the most popular candidate among the public, pushing for changes.
