At a press conference on the 31st, Finance Minister Satsuki Katayama stressed that the cabinet is unanimous in its policy of returning the consumption tax rate on food and beverages to 8 percent after two years, following the reduction announced by Prime Minister Sanae Takaichi from the current 8 percent to 1 percent starting in April 2027. She reiterated that the tax cut will be funded without relying on special deficit-financing bonds, and in response to dissent within the Liberal Democratic Party, she pointed to the weight of the party president's policy and the unanimous decision of the party executive board, indicating her intention to push for the tax cut. She declined to comment on whether there had been any foreign exchange intervention related to the yen's appreciation against the dollar the previous day, but she referred to US Treasury Secretary Bessent's remark that the yen is undervalued, and assessed it as a clear message that as the Takaichi administration's economic policies progress, the market will recognize the yen's undervaluation.