[Japan Launches 'Government Efficiency Department,' Cabinet Responds to Central Bank Rate Hike Hint]
On December 2, the Japanese government launched its domestic version of the 'Government Efficiency Department' (DOGE). During its first meeting, a plan was formulated to identify and eliminate inefficient tax measures and subsidies. Finance Minister Katsuyuki Katayama stated that efforts will be made nationwide to eliminate waste and redirect funds to areas that truly need them, in order to maintain trust in the nation, its currency, and its markets. Katayama also mentioned that after Bank of Japan Governor Kazuo Ueda hinted at a possible rate hike, there is no disagreement between the government and the central bank regarding economic assessments. Economic Growth Strategy Minister Minoru Kounai reiterated related remarks, indicating that the Cabinet holds a unified stance on the matter.