Japanese parliament on Wednesday elected Chief Cabinet Secretary Yoshihide Suga as the country's new Prime Minister, two days after he became the president of the ruling Liberal Democratic Party.
Suga, 71, was elected as Prime Minister at an extraordinary session of the Diet on Wednesday. He was elevated to the top executive post with a comfortable majority of votes in both chambers.
Suga, who was born as the son of a farmer and earned his living as a factory worker, becomes the 63rd Prime Minister of the world's major economy, replacing Shinzo Abe.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.