LDP calls for setting 2% inflation target with BOJ
LDP releases policy platform ahead of Dec 16 election.
- Calls for BOJ cooperation in seeking drastic easing
- LDP to consider setting up fund to buy foreign bonds
- Pledges economic stimulus soon after taking power
- Pledges to pass large-scale extra budget
- Pledges to increase defence spending, military personnel
- Considers putting officials on islands disputed with China (OH DEAR)
- May change constitution to assert right of self defense
- Aims to achieve primary balance surplus by 2020
- Considering variable sales tax rates for lower income group
- To cut welfare payment by 10%
- Corporate tax rates must be cut significantly
- Won’t join TPP if required to abolish all tariffs
USD/JPY has continued its’ sojourn higher, presently at 81.90 having been as high as 81.97. Barrier option well-touted at 82.00.