Japan to compile economic package in October to ease inflation pain

He would instruct his cabinet on Tuesday to compile an economic package next month and swiftly compile an extra budget to fund it.

Japan's Prime Minister Fumio Kishida unveiled on Monday the pillars of a new economic package to be compiled in October to help households ease the pain of price hikes and boost wages.

Kishida also warned investors trying to sell off the yen, which will boost import bills for food and energy, saying that he was closely watching currency moves with a high sense of urgency. "It's important for currencies to move stably reflecting fundamentals," Kishida said in a rare remarks on the foreign exchange market.

Kishida said the economic stimulus package would include measures that counter issues such as inflation, and promote wage growth. He would instruct his cabinet on Tuesday to compile an economic package next month and swiftly compile an extra budget to fund it. The size and substance of the extra budget remains unclear.