# Japan ruling party heavyweight calls for $239 billion extra budget, BOJ’s push to weaker JPY — Octa

> Japanese ruling party lawmaker Kozo Yamamoto called for a 26-trillion-yen ($239 billion) extra budget and urged the Bank of Japan to weaken the yen. He argued Japan was sliding back toward deflation and that the BoJ was stealth tapering asset purchases. USD/JPY stepped back from an intraday high of 108.82 to 108.75 after the remarks.

- Date: 2021-05-26 · published 2021-05-26T12:00:00.000Z
- Category: policy · region Japan · magnitude low
- Page: https://feedsoft.ai/events/47354-japan-ruling-party-heavyweight-calls-for-239-billion-extra-budget-boj-s-push-to
- Commodities: [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Calls for fiscal stimulus and a weaker yen would reduce the yen cost of imported feed grains and meals if they became policy. The effect is still only a proposal, so the price impact is small for now.

## Read by commodity

- USDJPY: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/902892/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.