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Shinzo Abe's $265 bn stimulus plan puts pressure on BOJ to ease

The size of the package, at more than 28 trillion yen ($265.30 billion), is nearly 6% the size of Japan's economy

Reuters  |  TOKYO 

Japan's Prime Minister Shinzo Abe unveiled a surprisingly large $265-billion stimulus package on Wednesday to reflate the world's third-largest economy, adding pressure on the central bank to match the measures with monetary stimulus later this week. The earlier-than-expected announcement to boost the flagging economy sent Japanese and other Asian stock markets higher while it weighed on the safe-haven yen, but lacked crucial details on how much of the package would be direct government spending. The size of the package, at more than 28 trillion yen ($265.30 billion), exceeds ...

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First Published: Thu, July 28 2016. 00:15 IST
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