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Japan PM Abe: Will Raise Sales Tax Barring Severe Shock

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Japanese Prime Minister Shinzo Abe said on Tuesday he will proceed with a scheduled sales tax hike next year unless the economy is hit by a shock on the scale of the collapse of Lehman Brothers in 2008 or the massive earthquake that struck in 2011.

He also told parliament that he was “not thinking at all” about dissolving the lower house and calling a snap election.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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