Sources: Japan Govt to say $240 bln econ package to lift GDP by 1.4% - Reuters

Dhwani Mehta FXStreet

According to three Japanese government sources quoted by Reuters, the Japanese government will announce a 26 trillion yen ($240 billion) economic package later on Thursday.

The govt expects the stimulus package will push up the gross domestic product (GDP) by 1.4%, the sources added.

They further said that “the package would include fiscal spending of 13.2 trillion yen aimed at stalling growth in the world's third-largest economy amid downward pressure overseas.”

“The total package would include government loans, credit guarantees and private-sector spending,” they concluded.

The pro-growth headlines are seen lifting the sentiment around the Japanese yen, knocking-off the USD/JPY pair to session lows near 108.75 region, down -0.06% so far.

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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