Abe will also tell his cabinet to compile a 2 trillion yen ($17.80 billion) economic package by year-end, composed mostly of spending on child care and education, to cover the three years from April 2018 until sales tax revenue kicks in, the Yomiuri newspaper reported on Monday.
HONG KONG: Prime Minister Shinzo Abe’s solid election win green lights a continuation of the Bank of Japan’s (BoJ) massive economic stimulus, entrenching a divide with global peers who are either heading in the opposite direction or mulling moves to do so.
While growth in the world’s third-largest economy has picked up, inflation remains nowhere close to the BoJ’s 2% target. Continued easing means Japan will remain a source of liquidity for the world economy and especially emerging markets in Asia that are vulnerable to rising interest rates, said Frederic Neumann, co-head of Asian economics research at HSBC Holdings Plc in Hong Kong.
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