Japanese junior coalition partner, Ishin, leader Yoshimura says Japan should proceed with a two-year suspension of food sales tax at the earliest date possible
The comments from Ishin's leader highlight growing political support for a suspension of the food sales tax, which may put pressure on the Bank of Japan (BoJ) to act amidst ongoing yen weakness.
Alibaba (9988 HK) is to releases it AI app Qwen V3.5 today
[MARKET ANALYSIS] Commodities lack demand amid the holiday closures in Asia and North America
Japanese junior coalition partner, Ishin, leader Yoshimura says Japan should proceed with a two-year suspension of food sales tax at the earliest date possible
PRE-MARKET HONG KONG STOCKS NEWS: Meituan (3690 HK) prelim. FY25 (CNY) net loss 23.3bln-24.3bln (exp. loss 22.2bln), mainland China is closed for more than a week, while Hong Kong markets will only be open for the morning session
Japanese Economy Minister Kiuchi expects employment and income gains, as well as policy measures to support a gradual recovery
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Says:
- Japan should consider using foreign reserves to fund food tax suspension.
- BoJ could consider further tightening given yen weakness.
- BoJ must lead on interest rate decisions, not the government.
If the BoJ does consider tightening further, it could signal a shift in their policy approach, impacting interest rates and potentially providing support for the JPY, while also introducing implications for pricing in commodities and fixed income. This situation is crucial to monitor as it speaks to the interplay between government fiscal measures and central bank independence.
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