Week in FX Asia – Sales Tax Hike Boosts Q1 Numbers in Japan

JAPAN Sovereign debt rises to $10.08 trillion BOJ Governor says sales tax effect contained Introduction of sales tax hike gave boost to economy in Q1 BOJ to increase reserves The first quarter results was solid for Japan. The sales tax hike had a positive transitory effect as consumers rushed to purchase big ticket items before it was introduced. There is an ongoing debate on what the long term effect of this tax will have given the sluggish recovery of the economy. The reason why it was



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