Japan’s Prime Minister Sanae Takaichi on Friday secured cabinet approval for a sweeping economic stimulus package, delivering on her pledge to deploy aggressive fiscal support as inflation continues to squeeze consumers and businesses.
The package totals JPY 21.3 trillion ($135.4 billion), including JPY 17.7 trillion in general account spending—its largest since the pandemic era—and JPY 2.7 trillion in tax reductions. The scale far exceeds last year’s JPY 13.9 trillion plan, underscoring the administration’s commitment to expansionary policy.
Officials say the measures are intended to counter rising living costs, though the strategy cuts against the conventional view that large stimulus programs risk stoking further inflation.
Bitcoin, meanwhile, continued its decline despite the inflation-hedge narrative often associated with the asset. BTC slipped 0.8% to $85,480, deepening a pullback from the record $126,000 level reached on Oct. 8.
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