Tetsushi's Feed
Nov 21, 2014

Japan finance minister Aso: recent yen weakening ‘too rapid’

TOKYO (Reuters) – Japan’s finance minister warned on Friday about the yen’s weakening, describing it as “too rapid”, but he stuck to the government’s stance of allowing markets to determine exchange rates and dismissed the need to intervene to halt the slide.

Speaking to reporters after a cabinet meeting, Taro Aso said rapid currency moves, whether up or down, were undesirable.

Nov 21, 2014

Japan finmin Aso – recent yen weakening ‘too rapid’

TOKYO (Reuters) – Japan’s finance minister warned on Friday about the yen’s weakening, describing it as “too rapid”, but he stuck to the government’s stance of allowing markets to determine exchange rates and dismissed the need to intervene to halt the slide.

Speaking to reporters after a cabinet meeting, Taro Aso said rapid currency moves, whether up or down, were undesirable.

Nov 18, 2014

Japan PM to seek fresh mandate for ‘Abenomics’ with snap poll

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Tuesday that he would call an early election to seek a fresh mandate for his economic policies, and postpone an unpopular sales tax rise, a day after data showed the economy had slipped back into recession.

The world’s third-biggest economy unexpectedly shrank for a second consecutive quarter in July-September, a sign the pain from an initial rise in the sales tax to 8 percent from 5 percent in April was lasting longer than expected.

Nov 17, 2014

Japan economy unexpectedly shrinks in third-quarter, Abe seen delaying tax hike

TOKYO (Reuters) – Japan’s economy shrank an annualised 1.6 percent in July-September, confounding expectations for a modest rebound after a severe contraction in the previous quarter and solidifying the view premier Shinzo Abe will delay a second sales tax hike next year.

Abe has said Monday’s GDP data would be key to his decision on whether to proceed with the increase to 10 percent in October next year. That decision had been expected by year-end.

Nov 17, 2014

Japan economy unexpectedly shrinks in Q3, Abe seen delaying tax hike

TOKYO, Nov 17 (Reuters) – Japan’s economy shrank an
annualised 1.6 percent in July-September, confounding
expectations for a modest rebound after a severe contraction in
the previous quarter and solidifying the view premier Shinzo Abe
will delay a second sales tax hike next year.

Abe has said Monday’s GDP data would be key to his decision
on whether to proceed with the increase to 10 percent in October
next year. That decision had been expected by year-end.

Nov 14, 2014

Japan LDP official sees delay in tax increase

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe is likely to delay a planned tax increase, a senior official of his party said on Friday, as cabinet ministers stressed the need to eventually fix the country’s tattered finances.

“I am convinced that within the next few days the message will come that there must be a delay,” in raising the national sales tax, Masahiko Shibayama, head of an economic panel in the Liberal Democratic Party, told Reuters.

Nov 14, 2014

Japan’s Amari: PM Abe cannot delay sales tax hike indefinitely

TOKYO (Reuters) – Japanese Economics Minister Akira Amari said on Friday that Prime Minister Shinzo Abe cannot delay a sales tax increase indefinitely, suggesting that Tokyo will not loosen its commitment to reducing public debt and balancing its budget.

If the sales tax increase were delayed the government would do its utmost to meet its targets for reducing the primary budget deficit and maintain trust in Japanese government debt, Amari said.

Nov 13, 2014

Japan firms overwhelmingly want Abe to delay tax hike: Reuters poll

TOKYO (Reuters) – Japanese companies overwhelmingly want Prime Minister Shinzo Abe to delay or scrap a planned tax increase, a Reuters poll shows, highlighting concerns that it could derail a fragile economic recovery.

As expectations grow that Abe will soon announce he is putting off the unpopular measure, the Reuters Corporate Survey found that nearly three in four big companies think the economy is too weak to weather the increase as scheduled in October 2015.

Nov 13, 2014

Japan manufacturers’ mood up; outlook weak – Reuters Tankan

TOKYO (Reuters) – Japanese manufacturers grew more confident for the first time in three months but expect conditions to worsen again, a Reuters poll showed, underscoring a cautious economic outlook even as the Bank of Japan takes fresh steps to bolster growth.

Sentiment among service companies slid for the second straight month to its lowest in a year, the Reuters Tankan showed, as retailers continued to feel the pain from a sales tax hike in April.

Nov 12, 2014

Japan vice economy minister says no new bonds to fund stimulus

TOKYO (Reuters) – Japanese Vice Economy Minister Yasutoshi Nishimura said on Wednesday that the government would not issue new bonds to fund an expected economic stimulus package, due to concern about massive public debt.

The economic package for the fiscal year to March would be aimed at supporting low-income households, small firms and rural areas hit hard by higher energy and materials costs caused by the yen’s depreciation, Nishimura told Reuters in an interview.