Japan’s Takaichi: Prioritise measures to bolster economy by building on competitive strengths

Japanese Prime Minister Sanae Takaichi stated on Friday that strengthening areas where Japan has a competitive advantage will be central to the government’s efforts to bolster the economy. With market turbulence affecting countries worldwide as well as Japan, she said the government would keep a close watch on developments and evaluate their possible effects.

Takaichi outlines economic priorities

Aware AI, chip shares dropping sharply, unsure if temporary or lasting. 

Focus on measures to reinforce economy by enhancing areas with competitive edge. 

Market turbulence impacting not only Japan but nations worldwide, so monitoring progress closely. 

Aim to use proceeds from BoJ’s faster ETF sales to fund spending on key areas for Japan's economic security. 

Proceeds from BoJ ETF sales reflect Japan's economic growth, should be used to promote further growth and a virtuous economic cycle. 

Proceeds from BoJ's accelerated ETF sales can fund bonds to help government secure funds for public spending targeting public investment. 

USD/JPY edges lower

Trading at 157.90 at the time of writing, USD/JPY is 0.07% lower on the day.