Japan Eyes Record Budget as BOJ Shock Pressures Funding Costs
- Kishida wrestles with party over financing ramped-up defenses
- Initial budget totals more than $865 billion, draft plan says
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Japan will again resort to bond issuance to help fund another year of record spending, with the Bank of Japan’s surprise policy move this week set to put pressure on borrowing costs going forward.
The government will look to issue bonds worth more than 35.6 trillion yen ($270 billion) to finance an initial budget of more than 114.4 trillion yen for the year starting in April, according to a draft document obtained by Bloomberg.