Japan’s economy minister Amari: May be hard to lower the corporate tax due to fiscal position

Amari speaking to reporters in Tokyo.

This comment is most likely aimed at supporting the JGB market – the ‘fiscal position’ is that Japan has enormous debt, reducing taxes and receiving less revenue would make debt payments that much more difficult (supply-siders, flame away). As the comment is supportive for JGBs it is also supportive of USD/JPY (but, please note, the comment does not exist in a vacuum, there are other influences on USD/JPY also).

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