According to a senior Japanese ruling Liberal Democratic Party (LDP) official, Hiroshi Moriyama, the government is striving to compile a supplementary budget sized around JPY 10 trillion ($92 billion), per Reuters.
His comments came after Japan’s ruling coalition called for an extra budget including $92 billion in spending to revive slowing growth.
On Tuesday, Japanese Finance Minister Aso reported that the size of Japan’s extra budget has not been decided yet.
So far these headlines have little to no impact on the Yen markets, as USD/JPY continues to cheer the trade optimism, holding near two-week highs of 109.19.
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