The call for more stimulus by Etsuro Honda comes barely three months after Prime Minister Fumio Kishida unveiled a bigger-than-expected ¥56 trillion package to support the economy.
RUSSIA
<strong>Fitch downgrades rating</strong>
The country was downgraded to the second-lowest level by Fitch Ratings, which said that a bond default is “imminent” as a result of measures ushered in since the Ukraine war. The firm said in a statement on Tuesday that it was reducing Russian’s rating by six notches to “C,” just one step above borrowers who have been driven into default. Fitch said the country is on the verge of such a lapse as it contends with the economic sanctions that have piled up and left it increasingly isolated since the war began. “The ‘C’ rating reflects Fitch’s view