FILE PHOTO: Pedestrians cast shadows as they make their way at a financial district in Tokyo, Japan, January 26, 2017. REUTERS/Kim Kyung-Hoon
October 30, 2019
TOKYO (Reuters) – Japan’s consumption is unlikely to be hit as hard from October’s sales tax hike as it was by the previous hike in 2014, a senior official at rating agency Moody’s Investors Service said on Wednesday.
Japan’s credit profile remains quite resilient amid expectations of a global cyclical slowdown over the next year or so, said Christian de Guzman, a senior vice president of sovereign ratings at Moody’s.
Japan’s national sales tax hike to 10% from 8% kicked in on Oct. 1.
It was the first time the levy was hiked since April 2014, when it was raised to 8% from 5%.
(This story refiles to correct day in the first paragraph to Wednesday)
(Reporting by Daniel Leussink; Editing by Richard Borsuk)
