Japanese PM Takaichi says the two-year consumption tax cut on food items proposal would "not rely on deficit-financing bonds". Adding, it applies to food only and is limited to two years, Nikkei reports.

Japan's Prime Minister Takaichi's proposal for a two-year consumption tax cut on food items signals a targeted approach to support consumers, particularly in the context of rising living costs.

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EU HCOB Manufacturing PMI Flash (Jan) 49.4 vs. Exp. 49.1 (Prev. 48.8)

EU HCOB Composite PMI Flash (Jan) 51.5 vs. Exp. 51.8 (Prev. 51.5)

Japanese PM Takaichi says the two-year consumption tax cut on food items proposal would "not rely on deficit-financing bonds". Adding, it applies to food only and is limited to two years, Nikkei reports.

German HCOB Manufacturing PMI Flash (Jan) 48.7 vs. Exp. 47.8 (Prev. 47.0)

German HCOB Composite PMI Flash (Jan) 52.5 vs. Exp. 51.6 (Prev. 51.3)

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Not relying on deficit-financing bonds suggests fiscal responsibility, which could provide stability for the JPY and impact commodity demand, especially for food-related sectors.

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