Prime Minister Takaichi said she will restore the food consumption tax to 8% after two years to preserve market trust and fiscal sustainability. The cabinet on Wednesday approved a plan to temporarily cut the consumption tax on food and non‑alcoholic beverages from 8% to 1%, effective April next year, as a transition until a new tax‑credit system due in 2029. The government has not specified how it will cover an estimated annual revenue shortfall of more than 4 tln yen, leaving funding and fisca

German government is considering nominating Bundesbank president Nagel for the European Central Bank presidency, sources said. Speculation that ECB president Lagarde could leave early has made Nagel’s candidacy a central internal debate in Berlin. Officials say failing to back Nagel would amount to abandoning Germany’s bid; they judge his chances as low but view running him as worth pursuing to gain leverage for other senior ECB posts, notably ECB chief economist. The appointment is likely the most consequential personnel decision euro-area governments will face in the coming months; Nagel has indicated he is open to the opportunity.

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