Japan’s PM Kishida: To instruct ministers to compile economic package on Tuesday

Japanese Prime Minister (PM) Fumio Kishida said on Monday that he will instruct ministers to compile an economic package on Tuesday.

Additional quotes

Aim to move from cost cut-led economy to one with active investments.

Economic package aims to protect people's lives from rising prices.

Private consumption, capex lack strength, being unstable.

To swiftly compile extra budget to fund new economic package.

Market reaction

At the press time, USD/JPY is testing intraday highs near 148.60, up 0.12% on the day. The Japanese Yen fails to draw any support from the above comments.