• Reuters, JIJI

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Finance Minister Taro Aso on Friday dismissed the need to boost fiscal stimulus to counter the impact of the consumption tax hike, despite expectations the government and the Bank of Japan may act to reduce pressure on the world’s third-largest economy.

The government rolled out a twice-delayed tax hike to 10 percent from 8 percent on Tuesday in a move seen as critical to addressing the nation’s tattered finances. But there are fears the higher tax could hurt consumer spending and tip the economy into yet another recession.

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