BOJ's Harada says that raising sales tax now risks causing a recession
Echoing his earlier comments
- Domestic economy has entered into a delicate state
- Q1 GDP appears strong but driven by fall in imports, inventories
- Hard to say that economy is recovering
- Says that Japan's fiscal stimulus is improving under QQE
- MMT is questionable as unlimited debt issuance would cause unwelcome inflation
He made similar comments earlier today here on concerns about raising the sales tax in October. It seems like he's about the only person willing to acknowledge the facts surrounding the Q1 GDP report, unlike most other lawmakers who are still pushing for the government to raise the sales tax later this year.