Japan’s Abe Warns of Lehman Sized Crisis as per Data

Japanese Prime Minister Shinzo Abe warned his Group of Seven counterparts of a crisis on the scale of Lehman Brothers, Nikkei reported, offering a potential justification to again delay an increase in the national sales tax.

Abe presented data at a Thursday session of the G7 summit he is hosting, showing that commodities prices have fallen 55 percent since 2014, the same margin they fell during the global financial crisis, the newspaper said, interpreting this as “warning of the re-emergence of a Lehman-scale crisis”.

Abe has pledged to raise Japan’s sales tax to 10 percent from 8 percent in April next year as planned, unless there is a financial crisis on the scale of the Lehman collapse or a major natural disaster.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza