Prime minister of Japan, Shinzo Abe has until Oct. 7th to make a decision on a Japanese Sales-Tax raise that will, if instated, take place in April 2014.
If Abe decides “yes” on the sales-tax, Japan’s sales-tax will go from 5% to 8%. Abe also has the authority to postpone the decision or scratch the idea altogether.
A poll by the Nikkei newspaper showed 17% of participants support the 3% bump for April, 55% agree that the tax should be raised but want the government to be more flexible on the timing, and 24% of people opposed the tax increase altogether.
If this initial plan goes through, it could set up the Japanese sales-tax to be at 10% by October 2015.
Growth In Japan
The world’s third largest economy, Japan, is expected to grow 2.6% in the fiscal year to March 2014. This is according to Reuters who also says that there is a 60% chance that the BOJ will expand their QE efforts by mid-next year, according to reports earlier this month.
For news updates and more fundamental analysis, follow me on Twitter. Follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!
For the most recent Technical Analysis click here!
Latest posts by admin (see all)
- How To Plan a Trade From Start to Finish - May 3, 2016
- How To Trade The Eur/Usd Right Now - April 29, 2016
- Eur/Usd Could Move Higher Based off of Support Pin Bar - February 19, 2016
Winner’s Edge Trading, as seen on: