Japan postpones VAT increase for second time

On Wednesday June 1st PM Abe announced that he would again delay the increase in consumption tax. The increase of the VAT rate to 10% was scheduled for April 2017.  The hike has been delayed for anouther two-and-a-half years until October 2019.  Abe stated that the hike at this point in time would "create a risk of the country falling back into deflation" hurting the chances that the Japanese economy would regain a sustainable growth track. 

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