Shigeru Ishiba, at the age of 67, is a former defense minister and a rare Christian in a country mainly dominated by Buddhism and Shinto. He stands out from the other candidates by advocating for a shift from nuclear power to renewable energy sources such as geothermal power. Ishiba supports the idea of legislation that
Economy
It is imperative for the Bank of Japan to increase interest rates to a minimum of 1%, according to the hawkish stance taken by policymaker Naoki Tamura. Tamura’s firm belief in the necessity of pushing short-term borrowing costs to at least 1% reflects the bank’s unwavering commitment to gradual monetary tightening. This bold assertion marks
Over the past two years, the US economy has displayed remarkable resilience to steep interest rate hikes enforced by the Federal Reserve. However, the reversals of these hikes are now being questioned in terms of their potential impact on the economy during a downturn. Despite a five percentage point tightening from March 2022 to July
The Bank of Japan’s policymaker, Junko Nakagawa, recently stated that the central bank would continue to raise interest rates if inflation aligns with its forecasts. This indicates that the bank remains committed to its plan of steadily increasing borrowing costs despite the market turmoil experienced last month. However, Nakagawa also emphasized the need to consider
World Bank President Ajay Banga recently highlighted the need for the global lender to simplify its processes and work faster in a world that is facing greater polarization. After visiting 27 countries, ranging from Peru to Tuvalu, Banga expressed the importance of adapting to the changing landscape of global challenges. During his speech at the
After a week of heavy losses, Wall Street is set for a higher open on Monday. Investors are remaining optimistic about a soft landing scenario for the U.S. economy. This optimism comes ahead of a crucial inflation report later in the week. All megacap stocks rose in premarket trading, with Tesla leading the gains by
France is facing a severe financial crisis, with the country’s budget deficit at risk of spiraling higher this year and next if additional savings are not identified. The Finance Ministry has warned of unexpected financial shortfalls, putting Paris in a difficult position as it navigates through EU disciplinary proceedings. The situation has raised concerns about
Janet Yellen, the current U.S. Treasury Secretary, hinted at her future plans after President Joe Biden’s term ends in January. She mentioned at the Texas Tribune Festival in Austin, Texas, that she is “probably done” serving at the highest levels of government after the new administration takes over. However, she also left a slight possibility
French Prime Minister Michel Barnier, known for his work negotiating Brexit, now finds himself in a challenging position of overseeing a country with deep political divisions. President Emmanuel Macron’s decision to appoint the 73-year-old Barnier comes at a critical time, following a snap legislative election that resulted in a hung parliament. The appointment was crucial
The recent report from the Labor Department shows a decline in the number of Americans filing new applications for jobless benefits. This reduction in layoffs indicates a positive trend in the labor market, suggesting that there may not be as much deterioration as previously feared. The weekly jobless claims data is considered one of the