Japan Tries to Boost Economy Next Week. Japanese Prime Minister (PM) Fumio Kishida will outline promised economic measures early next week, weighing opinion polls showing dissatisfaction with steps so far to ease the burden of rising prices triggered by a weak yen.
Kishida warned that Japan’s economic situation is still unstable. Apart from that, the economic prospects of large countries are also considered unpredictable. To that end, Kishida added that he would outline the bold steps needed in the first half of next week.
It is known that households and businesses are increasingly under pressure because inflation has remained above the 2 percent target for more than a year. Japan’s central bank, the BOJ, also continues to insist that it needs more time to see prices and wages continue to rise before reducing its stimulus.
According to the survey, the BOJ is expected to maintain its policy at its last meeting which ends on Friday (22/9). Japan’s top currency official also warned again on Wednesday that the government was not ruling out re-entering the market to shore up the yen if there was a sharp move.
Japan Tries to Boost Economy Next Week. The latest economic measures will be drawn up in October 2023. The additional budget needed to fund the plan will be submitted to parliament at an appropriate time after that.
Kishida said that these measures would include support for rising prices, support for higher wages and investment, and steps to help overcome population decline. When asked whether he had plans to hold a general election, Kishida answered that he would focus on pressing issues and not think about anything else.