ALSO READJapan's Shinzo Abe expected to call snap election amid North Korea crisis Japan PM Shinzo Abe eyeing snap election as early as October: Reports Japan PM Shinzo Abe announces $17.8 bn economic stimulus package MPs spend more near elections, says study Asian markets trade lower ahead of ECB meet and UK election
Japanese Prime Minister Shinzo Abe dissolved the lower house of parliament today, paving the way for a snap election that is expected to be held on October 22. The speaker of the house, Tadamori Oshima, read the statement of dissolution. Abe is widely seen as trying to reconsolidate his grip on power within the ruling Liberal-Democratic Party, so he can extend the term of his premiership next year. The dissolution of the more powerful of Japan's two-chamber parliament comes more than a year before required by law. The ruling party, though, faces a growing challenge from a new party launched by Tokyo Gov.
Yuriko Koike this week. The Party of Hope has energized some voters, and is gaining renegade lawmakers from the main opposition party.