TOKYO (BLOOMBERG) - Japan's Yoshihide Suga pledged to maintain outgoing Prime Minister Shinzo Abe's ultra-easy monetary policies, as a surge in support within the ruling party all-but guaranteed his ascension to the premier's job.. Read more at straitstimes.com.
TOKYO - Japan's Yoshihide Suga pledged to maintain outgoing Prime Minister Shinzo Abe's ultra-easy monetary policies, as a surge in support within the ruling party all-but guaranteed his ascension to the premier's job.
"Personally, I want to continue Abenomics with a firm sense of responsibility, and bring it forward," Suga told a packed news conference in Tokyo.He added that more should be done on monetary policy, if needed, to protect jobs and companies during the current crisis. Any sign of a departure from the path of Abenomics could send the yen surging and stocks sliding, triggering a re-evaluation of the outlook for the nation.
The currency drifted lower to trade at 106.28 against the dollar at about 1.20pm local time Thursday. While Ishiba has led public surveys about who should be Japan's next leader, the party quickly coalesced behind Suga after Abe's surprise decision Friday to resign due to health problems.Kishida released a policy paper Thursday, saying he wants to diversify supply chains and bring overseas manufacturing back home.
In contrast with his boss's rarefied political pedigree, Suga hails from the rural northern prefecture of Akita and worked in a cardboard box factory when he first moved to Tokyo.
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