Is Abe Preparing to Call a Snap Election?

Japanese Prime Minister Shinzo Abe is weighing holding a snap general election as early as next month, a move that would allow him to seize on opposition disarray and growing support for his handling of the North Korea crisis.Abe appears increasingly inclined to call an election amid a recovery in public support following a spate of scandals, public broadcaster NHK reported, without saying where it obtained the information. He’ll make a decision after talks with senior Liberal Democratic Party and government officials and may announce the move as early as Sept. 28 when parliament reopens, according to NHK.A vote is most likely to be held on Oct. 29, the Sankei newspaper reported. An NHK poll last week showed that support for Abe’s ruling coalition climbed 5 points to 44 percent from a month earlier, with approval exceeding disapproval for the first time in three months. A snap election may speed up the formation of a new national political party linked to Tokyo Governor Yuriko Koike to face Abe’s LDP, according to NHK, citing comments by lawmaker Masaru Wakasa.

Source: Japanese Prime Minister Abe May Call Snap General Election, NHK Reports – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.