Japan's Suga: No change to government plan to raise sales tax in October

Haresh Menghani FXStreet

Japan's chief cabinet secretary, Yoshihide Suga was out on the wires in the last hour confirming that there is no change to the government plan to raise the sales tax in October.

It is worth reporting that this is the same sales tax hike which was delayed back in 2016 to April 2017 and then subsequently delayed again to October this year.

Last time when a sales tax hike was introduced in 2014, the Japanese economy fell into a technical recession. Since then authorities have been avoiding any other such action, leading to the mentioned delays.

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Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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