Japanese Government To Hold Meetings About 10% Rate Hike

October 22, 2014 Share Print 0

The government will hold a string of intensive meetings with experts in November for discussing the possible effects of the planned consumption tax increase to 10 percent in October 2015 from the current 8 percent.

Prime Minister Shinzo Abe will use expert opinions gathered in these meetings as a reference for making a final decision in early December about whether to give his go-ahead to the tax hike.

About 40 economists and business leaders will take part in the intensive meetings to voice their views on the economic situation, the anticipated effects of the additional tax hike and measures to reduce damage to the economy.

They will first meet on Nov. 4, and again on Nov. 13-14 and on Nov. 17-18.

Before raising the consumption tax rate from 5 percent in April this year, the government held similar intensive meetings to hear the opinions of 60 experts.Speech

via Japan News

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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, Alfonso Esparza 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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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.