Japan LDP’s Hagiuda calls for $209B stimulus to combat inflation, weak yen

Japan’s ruling Liberal Democratic Party's (LDP) policy chief Koichi Hagiuda called for an additional stimulus package worth over JPY 30 trillion ($208.97 billion) to tackle the inflation and weak yen problem, Sankei newspaper reported.

Key quotes

"The supplementary budget of last year exceeded 30 trillion yen in size."

"Considering the price rises, global economic slowdown and weak yen and so on since then, more fine-tuned measures than last year are necessary."

Market reaction

USD/JPY is falling back towards 143.00 on these headlines, trading at 143.29, still up 0.12% on the day. The pair hit a session high of 143.80 earlier this morning.

• USD/JPY pares intraday gains, retreats below mid-143.00s ahead of US macro data