Japan rolls out $127 billion plan to fight rising prices
Japan's inflation hit 3.0% in October—still higher than the Bank of Japan's 2% target, which is a well-known policy goal—so Prime Minister Sanae Takaichi is stepping in with a huge stimulus package worth about $127 billion.
The plan includes energy subsidies and tax cuts to help consumers and businesses deal with higher costs, while also addressing worries about national debt and a weak yen making imports pricier.
Economic moves happen as tensions with China grow
Takaichi's big spending push comes at a tricky time: relations with China are tense after her recent comments on Taiwan.
China has called in Japan's ambassador and warned its citizens about traveling to Japan, plus there are rumors they might ban Japanese seafood imports.
Still, Takaichi remains focused on getting inflation under control.