Japan LDP Policy Chief: Government may need to consider compiling another extra budget if needed

“Japan may need to compile another extra budget, possibly next year, if the reserve fund not enough,” Hakubun Shimomura, the Policy Research Council Chief for the ruling Liberal Democratic Party (LDP) said in a Reuters interview on Friday.

Key quotes

“Need for another extra japan budget depends on the coronavirus situation.”

“PM Suga's administration will continue to cooperate with BOJ to support the economy.”

“Party not currently discussing the possibility of cutting sales tax.”

“PM Suga unlikely to call a snap election in 2020.“

“Cryptocurrency will be among the main topics in party talks.”

USD/JPY flirts with daily lows

USD/JPY keeps its range near daily lows of 105.81, tracking the US dollar weakness, with all eyes on fresh updates on the US fiscal stimulus. The spot sheds 0.12% on the day.