The Japanese government approves a spending package to ease the impact of inflation

The Japanese government on Friday unveiled a new stimulus spending package worth 39 trillion yen ($265 billion) that it said would boost gross domestic product by about 4.6 percent.

The government said it would provide an additional budget for the current fiscal year of 29.6 trillion yen to fund the package.

In a document detailing the package, the government also expressed the hope that the Bank of Japan would take note of the impact of financial market movements on the economy.