Business News

TOKYO, (APP/AFP) – The yen on Thursday slid to
its lowest level in about six weeks on expectations of fresh
stimulus from the Japanese government and central bank, ahead
of a European Central Bank meeting later in the day.
Japan’s currency has lost most of the sharp gains it made
in reaction to Britain’s June 23 vote to exit the European Union,
which sparked buying of safe assets.
On Thursday, Japanese media said Tokyo was readying a package
of at least 20 trillion yen — twice as much as earlier reported —
to kickstart the world’s number-three economy, fend off deflation
and counter any negative effects of the Brexit.