The Japanese version of the "Government Efficiency Department" has been launched, and the Cabinet quickly responded to the central bank's interest rate hike hint

The Japanese government has launched its own version of the "Department of Government Efficiency" (DOGE), which has established a plan aimed at identifying and eliminating inefficient tax measures and subsidies during its first meeting.

After the inaugural DOGE meeting, Finance Minister Shunichi Suzuki told reporters on Tuesday: "By eliminating waste through the efforts of everyone, including the public, and directing funds to areas that truly need them, we will stand in stark contrast to previous administrations. This is crucial for maintaining trust in the nation, in our currency, and in the markets."

Shunichi Suzuki also stated that she believes there is no divergence between the government and the Bank of Japan in their assessments of the economy, following Bank of Japan Governor Kazuo Ueda expressing confidence in the economic outlook and hinting at possible interest rate hikes. Meanwhile, Japan's Economic Growth Strategy Minister Minoru Kiuchi echoed these comments verbatim, indicating that this response was coordinated within the Cabinet and aimed at conveying a consistent signal of support. (Jin Shi)