The Japanese version of the "Government Efficiency Department" has been launched, and the Cabinet quickly responded to the Central Bank's hint of interest rate hikes.

According to BlockBeats news, on December 2, the Japanese government launched its own version of the “Government Efficiency Department” (DOGE), which set out a plan aimed at identifying and eliminating inefficient tax measures and subsidies during its first meeting. After the first DOGE meeting, Finance Minister Shunichi Suzuki told reporters on Tuesday: “By involving everyone, including the public, in eliminating waste and directing funds to areas that truly need them, we will contrast sharply with previous governments. This is crucial for maintaining trust in the nation, our currency, and the market.” Suzuki also stated that after Bank of Japan Governor Kazuo Ueda expressed confidence in the economic outlook and hinted at possible interest rate hikes, she believes there is no divergence between the government and the Bank of Japan in their assessment of the economy. Japan's Economic Growth Strategy Minister Minoru Kiuchi reiterated these comments word for word, indicating that this response was coordinated within the Cabinet and aimed at delivering a consistent signal of support. (Jin10)