Kishida Approves $21 Billion Extra Budget to Ease Price Pain
- Spending gives cover for BOJ to keep easing despite weak yen
- More spending measures expected after summer election
Kofukuji Matsubara shopping street in Yokohama, Japan.
Photographer: Takaaki Iwabu/BloombergThis article is for subscribers only.
Japan’s cabinet approved a 2.7 trillion yen ($21 billion) additional budget to help households and firms hit by higher prices, as the government looked to shore up support ahead of a key summer election.
The budget is part of a package of measures announced by Prime Minister Fumio Kishida last month that aims to ease the impact of inflation, particularly from rising energy costs amplified by the slide in the yen to two-decade lows.