Japan PM Takaichi's Approval Rating Drops To 57% Over Rising Living Costs
Japanese Prime Minister Sanae Takaichi's approval rating has dropped to 57% as rising living costs and economic pressures weigh on her administration. The decline has prompted speculation regarding a potential cabinet reshuffle to address the government's fiscal and monetary policy direction.
Why it matters
As the leader of a major global economy, Takaichi's political stability directly impacts international market confidence and the effectiveness of Japan's reflationary economic policies.
The approval rating of Japanese Prime Minister Sanae Takaichi's administration slumped in July to the lowest level since she took office last year, the Yomiuri newspaper reported on Sunday, a sign that rising living costs were hitting her popularity.The sliding popularity adds to headaches for Takaichi, who has seen her expansionary fiscal and monetary policy bias cause a spike in bond yields and a slump in yen to four-decade lows.Such market pressures and opposition even from within her own ruling party have delayed the government's decision on whether and when to cut an 8% levy on food sales - a pledge Takaichi made to cushion the blow from rising living costs.In a poll conducted between July 24 and 26, the approval rating for Takaichi's administration fell to 57%, down from 69% in June and the first time it has dropped below 60% since she took office, Yomiuri said.The percentage that…
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