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Japan’s PM Abe announces a JPY 2 trln economic stimulus package by year-end

Japanese PM Shinzo Abe is out on the wires now, via Reuters, announcing a JPY 2 trillion economic stimulus package and details on the same.

Key Points:

Orders package by year-end

Will make use of revenues from sales tax increase scheduled for oct 2019

Economy minister Motegi to be in charge of package

3 years to 2020 will be period of intense investment

Package to focus on subsidising education, child care costs and encouraging corp investments

Pre-school education will be made free across the board

Need to reach conclusion on funding stimulus package while maintaining fiscal discipline

Also read: Japan’s PM Abe to hold news conference at 0900 GMT - RTRS

Germany: Difficult government formation ahead – Danske Bank

Angela Merkel has secured her fourth term in office as her Conservatives (CDU/CSU) remained the largest party with 33.0%, followed by the Social Democ
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EUR/GBP breaks below 0.8800 mark, back closer to 2-month lows

The shared currency held weaker against its British counterpart, now pushing the EUR/GBP cross below the 0.8800 handle and closer to two-month lows su
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