Bank of Japan's Governor Signals Caution, Cabinet Approves $87.2 Billion for PM Kishida's Economic Package

Japan's economic policies are in focus as the Bank of Japan's Governor Kazuo Ueda signals a cautious approach to normalizing monetary policy due to lower-than-desired inflation. The cabinet approves an $87.2 billion extra budget to support PM Fumio Kishida's economic package amid declining support. Finance Minister Suzuki aims to bring down crisis-mode fiscal spending to ordinary levels and achieve the FY2025 primary budget balancing target. Additionally, Japan and South Korea plan to set up a joint hydrogen and ammonia supply network.