-- Japanese Prime Minister Sanae Takaichi is reportedly preparing a 500 billion yen ($3.1 billion) relief package to revive electricity and city gas subsidies from July through September, Reuters reported Thursday citing a source.
The move aims to shield households from rising costs fueled by Middle East tensions and a surge in liquefied natural gas prices, it said.
According to the report the government intends to tap existing reserve funds rather than drafting a new supplementary budget and the measures would specifically cover peak summer usage.
The Japanese government did not respond to' request for comments immediately.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)