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Friday, December 12, 2008

Japan govt plans $437 billion economic package: Report

Japan's government plans to map out an economic stimulus package worth $437 billion .Prime Minister Taro Aso will announce the package at a news conference on Friday, the paper said without citing sources.

Under the package, the government will boost spending on measures to ease the pain from a worsening job market and cut taxes on purchases of low-emission cars, the paper said. The package will also include an expansion in the amount of public
funds set aside to pre-emptively recapitalise financial institutions to 12 trillion yen ($131 billion) from 2 trillion yen, it said.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jun 16
04:00 Business NZ PSI 2 44.0 48.1 Revised from 48.5
04:31 Rightmove House Price Index (MoM) 1 -0.3% 0.6%
04:31 Rightmove House Price Index (YoY) 1 0.8% 1.2%
12:00 Producer and Import Prices (YoY) 1 -0.5%
12:00 Producer and Import Prices (MoM) 1 0.1% 0.1%
12:30 SECO Economic Forecasts 1
17:30 OPEC Monthly Market Report 1
17:45 Housing Starts s.a (YoY) 1 248.0K 278.6K
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