Japan cabinet approves $53 billion extra budget to fund stimulus (Dec 2013)

Japan's Prime Minister Shinzo Abe attends a news conference at his official residence in Tokyo

Source: Reuters – Japan cabinet approves $53 billion extra budget to fund stimulus

Notable excerpts:

Japanese Prime Minister Shinzo Abe’s cabinet approved on Thursday a $53 billion extra budget for the current fiscal year to fund stimulus steps announced last week aimed at offsetting the blow from a planned increase in the national sales tax.

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Deflated: Prices in Greece at a 50-year low (Nov 2013)

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Source: RT – Deflated: Prices in Greece at a 50-year low

Notable excerpts:

Prices of goods in Greece, from milk and bread to medicine have fallen by 2.0 percent in October, and are now at their lowest since 1962. Only the price of alcohol and tobacco increased in the last year.

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Japan Inflation Accelerates to Fastest Since 2008 on Energy (Sep 2013)

inflation

Source: Bloomberg – Japan Inflation Accelerates to Fastest Since 2008 on Energy

Notable excerpts:

Japan’s inflation accelerated to the fastest pace since 2008 in August on higher energy costs, underscoring pressure on Prime Minister Shinzo Abe to drive wage increases as he seeks to end 15 years of deflation.

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Japan to Raise Sales Tax (Oct 2013)

Japan's Prime Minister Shinzo Abe attends a news conference at his official residence in Tokyo

Source: WSJ – Japan to Raise Sales Tax

Notable excerpts:

Japanese Prime Minister Shinzo Abe said Tuesday he will go ahead with a plan to raise the national sales tax in April and promised a stimulus package to cushion its impact, stressing that the country needs to achieve both fiscal consolidation and economic growth to exit 15 years of debilitating deflation.

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Debt Disaster Seen Unless VAT Rises to 20% by 2020 (Sep 2013)

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Source: Bloomberg –Debt Disaster Seen Unless VAT Rises to 20% by 2020: Japan Credit

Notable excerpts:

Japan must raise its sales tax to at least 20 percent by the time the Olympics come to Tokyo in 2020 to avert a “disaster” in its bond market, according to the head of a panel advising the world’s biggest pension fund.

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