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Speaking at an extraordinary parliament session that convened on Friday, the Japanese PM Abe said that the government was ready to take “all possible steps”, in an effort to sustain the economic recovery.

Key Quotes:

“Achieving economic growth remains my administration’s top priority.”  

“If downside risks materialize, we will take all possible steps flexibly and without hesitation to ensure the economy is on a growth path.”

Japan, earlier this week, rolled out a twice-delayed increase in the sales tax to 10% from 8% that is seen denting the consumer sentiment.

  • Japan’s  Nishimura: There are worries sales tax hike may weigh on consumer sentiment

The USD/JPY pair is seen making minor-recoveries in a bid to regain the 107 handle, with the Japanese currency unable to find support from the upbeat remarks from PM Abe.