Japan’s economic stimulus package to be rolled out in two phases – Bloomberg

Dhwani Mehta FXStreet

The highly anticipated Japanese economic stimulus package to cushion the blow from the coronavirus pandemic is likely to be unveiled in two phases, Bloomberg reports on Monday, citing sources with knowledge of the matter.

Further details

The rescue package to include:

Increased subsidy rates for firms to help limit losses of jobs.

Household with income are to receive 300,000 yen in cash.

Household with children receive 10,000 yen per child.

Government to secure avigan supply for 2 million people in fiscal 2020 year.

Japan state of emergency to take effect on April 8 – Kyodo

USD/JPY reaction

The yen remains on the offers amid a likely state of emergency in Japan and expectations of a rescue package to be rolled out soon. USD/JPY rises 0.53% to flirt with 109.00, having hit a daily high of 109.09 earlier today.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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