Takaichi's Approval Ratings Plummet as Inflation Bites

Japanese Prime Minister Sanae Takaichi's approval ratings have taken a hit as inflation continues to bite. According to a recent poll by Yomiuri newspaper, her administration's approval rating fell to 57% in July, down from 69% in June.

This marks the first time Takaichi's approval rating has dropped below 60% since she took office last year.

The percentage of people who disapprove of her administration rose to 34% from 21% in June, while those who disapproved of her efforts to combat rising living costs increased to 71%, up from 56%.

Takaichi's expansionary fiscal and monetary policy bias has caused bond yields to spike and the yen to hit four-decade lows, adding to her headaches.