Apr 2, 2015

60% of Japanese cut spending after tax hike: BOJ survey

A Bank of Japan survey revealed Thursday that 59.8 percent of respondents tightened their purse strings after the consumption tax hike in April last year. Of them, 75.3 percent said they were still curbing spending, according to the survey, which was conducted between Feb. ...

December consumer confidence up for first time in five months

Jan 19, 2015

December consumer confidence up for first time in five months

Consumer confidence improved for the first time in five months in December, the government said on Monday, suggesting Prime Minister Shinzo Abe’s decision to postpone the second stage of the consumption tax hike has eased fears about Japan’s economic outlook. The seasonally adjusted index ...

Jan 13, 2015

Tax hike may have lowered private spending by ¥1 trillion

Last April’s consumption tax hike is estimated to have pushed down private spending by nearly ¥1 trillion for the six months through September, the Cabinet Office said in an annual economic report released Tuesday. The downturn in private spending, which accounts for more than ...

Dec 23, 2014

2015 general account spending to total over ¥97 trillion

The Abe administration is considering setting the scale of general account spending at a record ¥97 trillion to ¥98 trillion in its initial draft for the fiscal 2015 budget, informed sources said. Although the spending is set to reach an unprecedented amount, it is ...

Dec 18, 2014

Next year's budget expected to hit record ¥98 trillion

The general account budget for fiscal 2015 is likely to reach a record high of about ¥98 trillion, exceeding the ¥95.9 trillion initial budget for this year, Finance Ministry sources said. With Prime Minister Shinzo Abe eager to shore up the flagging economy, policy ...

Sep 11, 2014

Republicans rebuff Obama on training Syrian rebels

House Republicans have rebuffed President Barack Obama’s request for explicit approval to train and equip Syrian rebels battling forces seeking creation of an Islamic State and to spend up to $2 billion stabilizing the situation in Ukraine, Iraq and other hotspots, U.S. officials said ...

Mar 6, 2014

Consumers get the jump on tax hike

Before the consumption tax rises to 8 percent from 5 percent in April, consumers are rushing to make advance purchases of goods and services ranging from gadgets to train passes to lock in savings. The transitional measure on the tax hike allows March purchases ...