So says the draft of the next fiscal year's budget now being released by Reuters

  • will purse both in its bid to defeat deflation
  • PM Abe's cabinet is expected to approve the outline on 1 Dec
  • the budget will be compiled along with a supplementary budget for the current fiscal year
  • govt seeking to boost GDP by a fifth over the next 5 years and support farmers affected by TPP
  • draft calls for an across the board review of spending without exception and a budget allocation to areas where strong policy effects are expected
  • budget to be compiled in line with the govt's plan to limit an increase in budget spending to JPY1.6trln over next 3 years

Meanwhile USDJPY still trawling around 122.80 with other pairs in similar standby mode as European desks open up