The Japanese government under Prime Minister Sanae Takaichi formally approved its annual economic and fiscal policy plan on July 21, stressing that the Bank of Japan must conduct monetary policy independently. There is still no conclusion on suspending the consumption tax for food items, a key campaign pledge, with a decision to be made by early August amid concerns over government revenue and fiscal health. The government also approved a new economic growth strategy, aiming to attract more than 370 trillion yen, or roughly 2.3 trillion US dollars, in domestic investment by March 2041 to push nominal gross domestic product to nearly 1,100 trillion yen. The final plan added language supporting stable price increases and reaffirmed the central bank's independence, easing investor concerns after an initial draft had pushed up Japanese government bond yields and weakened the yen.