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Real-time News
Bank of Japan Governor Kazuo Ueda: Adjusting the level of monetary support will help us achieve our price target smoothly and bring about sustainable growth.Bank of Japan Governor Kazuo Ueda: The mechanism of moderate, synchronized wage and price increases is expected to continue; if the economic and price trends meet expectations, the Bank of Japan anticipates continuing its pace of interest rate hikes.The South Korean won fell 0.6% against the US dollar to 1,472.60.On January 15th, the Ministry of Finance issued a notice revising the "Management Measures for Key Ecological Protection, Restoration and Governance Funds," clarifying the financial support policies for integrated protection and restoration projects of mountains, rivers, forests, fields, lakes, grasslands, and deserts, as well as ecological restoration projects of historically abandoned mines during the 15th Five-Year Plan period. The revision aims to standardize the use and management of funds and promote ecosystem protection and restoration. Eligible key ecological protection, restoration and governance projects will have a three-year implementation period. Regarding central government subsidies, support for integrated protection and restoration projects of mountains, rivers, forests, fields, lakes, grasslands, and deserts (also known as the "Mountain and Water Project") has been increased, raising the central government subsidy ratio. Projects within a province will receive a maximum subsidy of 75%, not exceeding 2 billion yuan. For the first time, cross-provincial joint applications for projects are explicitly supported, with cross-provincial projects receiving a maximum subsidy of 80%, not exceeding 2.5 billion yuan.On January 15th, Capital Economics analyst Marcel Tiliant pointed out that the upcoming Japanese general election is unlikely to lead to a significant easing of fiscal policy. Prime Minister Sanae Takaichis cabinet has the highest approval rating since the early days of Shinzo Abes administration, and the ruling coalition is expected to almost certainly extend its majority. However, he questions whether this will necessarily lead to a more accommodative fiscal policy. He stated that the massive supplementary budget passed last year to reduce gasoline surcharges and electricity prices has weakened the case for further fiscal expansion. Furthermore, Japan already plans to increase spending in its regular budget for fiscal year 2026. Any additional fiscal easing would require another supplementary budget, which Japan typically only uses in response to severe natural disasters or major economic turmoil.
