Japan should raise sales tax above 10 percent – Reuters poll

Japan should raise sales tax above 10 percent to fund the welfare cost, most economists in a Reuters poll said.

Key points

• Over 70 percent of economists surveyed said Japan should raise sales tax above 10 percent.
• Some economists are recommending it should be over 20 percent.
• BOJ to keep short-term interest rate target at -0.1 percent, 10-year JGB yield target around 0 percent till at least mid-2020.
• Accepting more foreign workers positive for an economy to secure labor force in Japan.