Japan cabinet approves spending package to ease inflation pain

TOKYO – Japan’s government on Friday unveiled a new stimulus package with spending worth 39.0 trillion yen ($265 billion) that it said would boost gross domestic product (GDP) by around 4.6 percent.

The government said it would compile an extra budget in the current fiscal year worth 29.6 trillion yen to fund the package.

In a document detailing the package, the government also expressed hope the Bank of Japan would pay attention to the impact financial market moves could have on the economy.

($1 = 147.0900 yen)