Wednesday, November 30

Japan needs stimulus package of at least $105 bln – ruling party official

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TOKYO — Japan needs a fresh economic stimulus package worth at least 15 trillion yen ($105 billion), a senior ruling party official was quoted as saying by Kyodo news agency on Tuesday.

“We need a large-scale, comprehensive package” to deal with economic headwinds from rising living costs and monetary tightening steps by US and European central banks, Toshimitsu Motegi, the ruling Liberal Democratic Party’s (LDP) secretary general, told a news conference, according to Kyodo.

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($1 = 143.3200 yen) (Reporting by Leika Kihara Editing by Shri Navaratnam)