Japan upper house election – Abe maintains solid majority

Prime Minister Shinzo Abe’s ruling coalition has maintained their majority in the 245-member upper house

The weekend election was for half the seats. Abe’s coalition took enough seats to ensure their majority is maintained. But fell short of a ‘super majority’ Abe would like to ease constitutional reform.

After the election Abe’s coalition hold 137 of the 245 seats in the upper house. 

For the economy, the win is another sign the October consumption tax hike is locked in. Currently at 8% its to move to 10%.


Articles You May Like

AUD/USD sellers regain near-term control amid risk-off mood in markets
US Dollar May Rise, GBP/USD Eyes 1985 Low After UK GDP Contraction
The volatility guide to key event risk in the week starting Aug 12
Dow closes at session lows. Dow(n) -800 points
A better understanding of technical analysis and related indicators

Leave a Reply

Your email address will not be published. Required fields are marked *