Japan’s Abe Dissolves Parliament

Japan’s Prime Minister Shinzo Abe has dissolved parliament, paving the way for a snap election.

Mr Abe is seeking a new mandate for economic reforms and is delaying an unpopular increase in sales tax.

But opinion polls conducted by local media indicate low support for the PM and that many people do not understand why he has called an election two years ahead of schedule.

Japan will now head to the polls in mid-December.

The dissolution of parliament was announced in the lower house by Speaker Bunmei Ibuki on Friday morning.

Japan’s legislature, known as the National Diet, comprises the upper House of Councillors and the lower House of Representatives.

Mr Abe is expected to hold a news conference later.

On Thursday, he said he would use the election campaign to clarify his government’s growth strategy, reported national broadcaster NHK.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza