SINGAPORE -- (Marketwire) -- City Index Asia - The Japanese government is set to announce some 12 trillion yen (£ 83.6 billion) in stimulus measures in a bid to boost the nation's ailing economy.
This is according to articles published in Kyodo News and the Yomiuri newspaper, which reported the figure for extra spending in the financial year through to March 2013 and prime minister Shinzo Abe told business chiefs earlier today (January 7th) that he is looking to implement measures this week.
Japan -- which is the world's third-largest economy -- is in recession and this programme of stimulus may help drive the nation's recovery forward.
Mr. Abe has vowed to end deflation and encourage growth, but the country's sky-high debt -- which is more than twice its gross domestic product -- remains a concern to economists and commentators, Bloomberg reports.
At close of play in Tokyo this morning, the benchmark Nikkei 225 index fell by 0.8 per cent to an index value of 10599 points.
City Index is a leading global provider of margined forex trading, CFD trading. As a group, we transact in excess of 1.5 million trades every month for individuals in over 50 countries worldwide.
Foreign exchange, also known as FX or Forex, is the simultaneous buying of one currency and selling of another at an agreed exchange price on the over-the-counter market.
Your losses are magnified in exactly the same way as your gains if the market moves against you and can result in losses exceeding your initial outlay. Please ensure you fully understand the risks involved.
P: +65 6826 9988