- Must consider corporate tax cuts
- Will extend tax cuts on home loans
- Stimulus package will be 5tn yen
- Will draw up package in early December
- Corporate tax rate is high compared to international standards. Must mull over how to lure investment to Japan
Mike had the scoop earlier on the rising sales tax and the market had most of it priced in. They were just waiting on the extra stimulus details and it looks like they’re not dancing for joy over the ¥5tn offered.
USD/JPY initially spiked up to 98.18 but has turned around and is now pushing lower to 97.78
