Japan PM Suga: Not thinking about lowering sales tax

Dhwani Mehta FXStreet

Japanese Prime Minister Yoshihide Suga said on Monday, he is not thinking about lowering the sales tax, which is used to fund social security.

Last week, Suga said that he would push for "budgetary steps" to support an economy hit by the coronavirus pandemic, per Reuters.

However, a Japanese government spokesman said last Friday that the Cabinet Office is not considering a third extra budget in detail yet.

Market reaction

USD/JPY was last seen trading at 104.71, up 0.09% on the day, as the US dollar remains supported by the US election nervousness.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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