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Japan PM Abe to announce a delay in sales tax next week - Mainichi Shimbun

FXStreet (Bali) - Japan PM Abe is to announce a delay to the planned sales tax hike in a news conference next week, according to Mainichi Shimbun reports, with the market now expecting the implementation of the 2nd consumption tax hike by mid 2017.

Mainichi Shimbun

"Also an idea floating within the government that Prime Minister Abe should announce only a “postponement” without clarifying any specific timing."

"Preliminary July-September GDP data, a key factor Abe is to take into account in deciding whether to raise the sales tax as planned, is due out on Nov. 17."

"The final meeting with experts in which Abe will hear opinions over whether to raise the sales tax is set for Nov. 18, and he is likely to announce his decision after the meeting A senior LDP official said that considering other economic indicators, the preliminary July-September GDP data would “undoubtedly be bad.”

"In line with his decision to postpone the consumption tax hike, Abe has started working on a plan to dissolve the lower house as early as next week and call a snap general election by the end of this year."

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