Japan to issue JPY22 trillion worth of bonds as economic stimulus – Nikkei
|Japan’s government to issue additional new bonds worth 22.1 trillion yen for this fiscal year to fund the economic stimulus, the Nikkei Asian Review reports, citing a draft of the stimulus document.
Additional takeaways
Japan govt estimates FY 2021/22 tax revenue to exceed initial estimates by 6.4 trillion yen.
Japan govt to spend 36 trillion yen in extra budget for FY2021/22 to fund stimulus.
This comes after Prime Minister Kishida said last Friday that his government will employ various means to fund stimulus, including issuing new debt.
Market reaction
USD/JPY is testing daily lows near 114.85, down 0.23% on the day, as of writing. The yen could be recovering some ground on the above headlines, after it slipped to four-year lows against the greenback at 115.24.
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