Japan’s Ishihara: Stimulus package to be compiled by end-July

Japan economy minister Ishihara was out on the wires last hour via Reuters, commenting on the economic stimulus expected to be on the cards soon. Although he did not provide specifics such as size of the package mentioned and timing of announcement.

Key Headlines:

Possible that construction bonds will be issued

Extra budget to fund stimulus will be submitted to extraordinary Diet session in Autumn

Didn't discuss funding sources for stimulus at meeting today

Stimulus package to be compiled by end-July

Hard to imagine a sudden spike in interest rates even in medium to long term

Meanwhile, USD/JPY continues to waver above 103 handle, moving-off highs reached earlier at 103.32, and up +0.37 on the day.