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Investing.com-- Japanese Prime Minister Shigeru Ishiba met with Komeito Chairman Tetsuo Saito on Tuesday, expressing his intention to introduce robust measures to combat rising prices after the fiscal 2025 budget was passed, Kyodo news agency reported on Tuesday.
Saito indicated that these measures would be implemented promptly after the budget’s approval, the report stated.
Japan has been grappling with inflationary pressures, with the annual inflation rate rising to 3.6% in December 2024, up from 2.9% in November, marking the highest increase since January 2023.
In response, the Bank of Japan raised its benchmark interest rate by 25 basis points to 0.5% in January 2025, the highest level since 2008, signaling confidence in achieving stable inflation around its 2% target.
Additionally, Ishiba expressed reservations about a proposal from Komeito and the Democratic Party for the People to strengthen regulations on corporate and group donations, describing aspects of the proposal as "extremely strict," Saito told reporters, according to the Kyodo report.