Japan, upper house
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The Sanseito party tapped into discontent over issues galvanizing voters worldwide: inflation, immigration and a political class dismissed as out of touch.
Exit polls suggest Prime Minister Shigeru Ishiba's coalition is likely to lose a majority its majority in the smaller of Japan’s two parliamentary houses in a key election.
Japan's election outcome may put the central bank in a double bind as prospects of big spending could keep inflation elevated while potentially prolonged political paralysis and a global trade war provide compelling reasons to go slow on rate hikes.