Kyodo reports
One of the unsung reasons behind the USD/JPY rally today was a report, citing sources, that the Japanese government is considering a supplementary budget.
"The government initially envisaged compiling a stimulus package of somewhat more than 10 trillion yen . But the size is likely to double as the package will now include projects for fiscal 2017 and beyond and increase "zaito" low-interest government loans by 6 trillion yen," Kyodo reports.
The stimulus could be even larger, they report. And able will look for the rubber stamp from the Cabinet in early August. About half will be earmarked for infrastructure.
