Japan’s PM Abe unveils $265bn stimulus package

Japan’s Prime Minister Shinzo Abe unveiled a $265billion stimulus package on Wednesday to reflate the world’s third-largest economy, adding pressure on the central bank to match the measures with monetary stimulus later this week. The earlier-than-expected announcement, which lacked details on how much of the package would be direct government spending, sent Asian stock market higher. The size of the package is 6% of Japan’s economy.