Japan’s Suga: No plan to lower sales tax

Japanese Prime Minister Yoshihide Suga said on Friday that they are not planning to lower the sales tax, as reported by Reuters.

Additional takeaways

“There still remains a risk of coronavirus infections staging a rebound.”

“Government continues to offer as much support for businesses as possible.”

“We need to drive down hospital beds’ usage rates over the next two weeks.”

“Difficult to resume domestic tourism promotion campaign for the time being.”

Market reaction

The USD/JPY pair showed no reaction to these comments and was last seen gaining 0.3% on the day at 108.30.