Japan’s Abe says he will seek a JPY 2trln economic package

Japanese PM Abe with widely touted announcement 25 Sept

  • orders package by year-end
  • will make use of revenues from sales tax increase scheduled for Oct 2019
  • economy minister Motegi to be in charge of package
  • 3 years to 2020 will be period of intense investment
  • package to focus on subsidising education, child care costs and encouraging corp investments
  • pre-school education will be made free across the board
  • need to reach conclusion on funding stimulus package while maintaining fiscal discipline

Eamonn had the early reports/rumours here

Abe is also due to give a presser at 09.00 GMT where he is widely expected to announce a snap election.

USDJPY sliding to 112.10 from 112.25 as the package detail is delivered.

                Thirsty work, politics.

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