19.09.2014 - Assessment of Japan's economy became worse
For the first time in 5 months in Japan decreased the country's economy forecast. The reason for the deterioration of the forecast has become unfavorable weather conditions this summer, which led to a decline in domestic demand. It is worth noting the negative impact of increasing sales tax on consumption in the country. The current deterioration of economic evaluations questions the following raising of the sales tax from 8% to 10%, which is expected in October 2015. Thus the Japanese yen continued to decline, which has increased due to the strengthening of the American currency. We maintain a medium-term negative outlook for the yen.