The 67-year-old former defence minister narrowly prevailed over hard-line nationalist Sanae Takaichi in an unpredictable race with a record nine candidates to lead the Liberal Democratic Party.
The yen rebounded against the dollar on Ishiba’s victory after falling on news he would face the run-off against Takaichi, a monetary dove and fiscal expansionist.
A monetary hawk, or hawk for short, is someone who advocates keeping inflation low as the top priority in monetary policy. In contrast, a monetary dove is someone who emphasizes other issues, especially low unemployment, over low inflation.
Not sure if they got the better deal here.
Japan has struggled with deflation for decades. Inflation has been a welcome development for them. With an aging population and low birth rates, they aren’t in danger of heading into hyper inflation.
Which is why the guy tha lost might have been a better option.
“I will ensure Japan emerges from deflation,” he said, promising to accelerate Kishida’s policies aimed at boosting household income through wage hikes."
I haven’t seen anything that suggests Ishiba is an inflation hawk. And as former defense minister, he’s going to accelerate Japan’s defense spending further and counter Chinese threat in the region. Which will boost economy.
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