Time to do a bit of a catch-up on what's going on in Japan.
PM Abe made his announcement yesterday:
- For 28 trillion yen in economic stimulus (that's around $260bn)
- He said 13tln yen of it will be "fiscal measures"
- But details were sparse (OK, non existent), he didn't indicate how much of it would be new spending
- He says he'll announce further details next week
All very vague.
Some analysts are reading his announcement yesterday as intended to place further pressure on the Bank of Japan to do more. The BOJ announcement will come on Friday (Tokyo time, around lunchtime - no firm time for the announcement is scheduled ... yes, really)
Stay tuned!
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ps. I read yesterday that there will be no 'helicopter money' drop in Japan. Apparently its expected that anyone finding money on the ground in Japan will simply bring it to a police station for return to its rightful owner.
