PM Takaichi to submit consumption tax reduction bill and denies Sanae Token allegations

Prime Minister Takaichi to submit consumption tax reduction bill and denies involvement in Sanae Token Prime Minister Takaichi stated at a press conference on the 27th regarding the consumption tax reduction on foodstuffs that 'we will submit a bill promptly after reaching a conclusion so that the effect of reducing the burden can be felt quickly.' Also, in the House of Representatives Budget Committee, she denied involvement in the crypto asset 'Sanae Token' and emphasized that her secretary did not acquire any such token. Regarding the establishment of an expert panel on imperial succession, she said it is 'not immediately necessary,' indicating a stance of respecting the operation of the revised Imperial House Law. 123

Government to consider setting cap on proportion of foreign residents The government decided on a policy to begin deliberating 'quantitative management' to set a cap on the proportion of foreign residents in the total population at a cabinet meeting on the 27th, as announced by Minister in charge Kimi Onoda at a press conference. This is based on a coalition agreement, with estimates that it could reach 10% by 2040, and aims to avoid social friction. An expert working group will be established to formulate basic policies by March next year. 4

BOJ to keep policy rate unchanged but maintain rate hike course The Bank of Japan is adjusting to keep the policy rate at 1% at its monetary policy meeting starting on the 30th. While checking the effects of last month's rate hike, it is also wary of inflation pressures from the situation in the Middle East and the weak yen, and is expected to revise up its inflation outlook. The pace of future rate hikes is a focus; the market expects an additional rate hike in December, but the possibility of earlier implementation is also pointed out. 56