LDP official Inada out on Bloomberg 31 May
Seems like it's official but no statement as yet from PM Abe
USDJPY a tad lower at 111.18
Meanwhile S&P sovereign analyst says the delay makes some sense given economic uncertainties
- significant risk that a sales tax hike next year could cause several quarters of weak growth
- sales tax hike as planned may not generate revenue needed for Japan to meet budget surplus target
- Japan's economy not supportive of higher taxes, there is risk of return to deflation
- do not expect delay to signal Japan's loss of commitment to deficit reduction
