Ishiba to focus on fighting inflation ahead of election

Prime Minister Shigeru Ishiba’s near-term focus is on addressing the plight of households struggling with high prices as he seeks to woo voters ahead of a general election later this month.

Ishiba, who was named Japan’s new leader Tuesday, also aims to calm financial markets by signaling his willingness to spend flexibly, after concerns that he may adopt an austere fiscal policy caused a stock market plunge referred to as the “Ishiba shock.”

The new prime minister said at an inaugural news conference that he plans to dissolve the Lower House of parliament on Oct. 9 for an election on Oct. 27.