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“We will deploy all fiscal and monetary means to protect jobs and businesses,” Japanese Economy Minister Yasutoshi Nishimura said on Monday, as reported by Reuters.

“We must ensure Japan does not return to deflation by minding too much about the country’s fiscal health,” Nishimura added.

Earlier in the day, the Asian Nikkei Review reported that Japan was planning to dedicate about JPY50 billion ($465 million) to support small and mid-sized firms.

Market reaction

The USD/JPY pair inched slightly higher on these comments. As of writing, the pair was up 0.25% on a daily basis at 107.60.