Japanese Prime Minister Fumio Kishida said that his government will employ various means to fund stimulus including issuing new debt.

Additional comments

“Not thinking of making changes to Japan's sales tax at the moment.”

“It is up to BOJ to decide on specific monetary policy measures.”

“Government will seek to sustainably raise wages by creating positive growth cycle.”

These comments come after he unveiled a record-breaking stimulus worth approximately JPY56 trillion ($490 billion).

Market reaction

USD/JPY is trading close to daily highs of 114.40, up 0.10% on the day.