Japanese Prime Minister Shigeru Ishiba said on Sunday he had decided to resign, ushering in a potentially lengthy period of policy paralysis at a shaky moment for the world’s fourth-largest economy.

Ishiba, 68, instructed his Liberal Democratic Party – which has governed Japan for almost all of the post-war era – to hold an emergency leadership race, he told a press conference, adding he would continue his duties until his successor was elected.

Since coming to power less than a year ago, Ishiba has overseen his ruling coalition lose its majorities in elections for both houses of parliament amid voter anger over rising living costs.