MNI BRIEF: Japan's PM To Compile Stimulus Measures Swiftly
MNI (TOKYO) - Japanese Prime Minister Shigeru Ishiba said on Friday that the government will swiftly compile economic stimulus measures, not only to help defeat deflation, but also to realise wage hikes above price rises.
The government will provide support to low-income households suffering from high prices, Ishiba said at an extraordinary Diet session.
However, he did not elaborate on the scale of the stimulus measures, or refer to the Bank of Japan’s monetary policy. (See MNI POLICY: BOJ Rate View Intact, Despite Dovish PM Remarks)
Ishiba, the new leader of Japan's ruling Liberal Democratic Party, was elected the country's 102nd prime minister on Tuesday.
The new prime minister said he would dissolve the lower house on Oct. 9 and hold an early election on Oct. 27, a move seen as an effort to seek a broader mandate for his new government.