Japan’s Nishimura: New economic stimulus package estimated to boost real GDP by about 4.4 %
Japan's new economic relief package to fight the coronavirus pandemic is estimated to boost real gross domestic product by about 4.4%, said Japanese Economy Minister Yasutoshi Nishimura on Friday.
He said the government would hold a meeting of experts to decide whether to extend the country's state of emergency beyond May 6.
Although Nishimura did not say when the meeting would be held.
Separately, the Finance Minister Taro Aso was reported as saying that they haven’t heard from the Bank of Japan (BOJ) whether to scrap the bond-buying cap at its meeting next week.
Aso added that he cannot say whether its right or wrong to keep the BOJ’s bond-buying limit.
USD/JPY stuck in range
After Thursday’s spike above 108.00 on reports of BOJ’s removal of the bond-buying limit, USD/JPY dropped back below the latter on broad risk-aversion.
At the time of writing, the spot trades in a tight range around 107.65 region, awaiting fresh impetus from the US macro data due later 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.
