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There was no change to the view that the economy remains in moderate recovery, despite rising pressure from a global slowdown, said the Japanese Finance Minister Taro Aso after a Cabinet meeting on Tuesday.

Key Quotes (via Reuters):

It’s true that manufacturers are mainly being affected by the global slowdown.

But fundamentals that support domestic demand remains solid.

Do not expect a repeat of deep declines in demand as happened during the previous sales tax hike in 2014.

Separately, Japanese Economy Minister Nishimura was reported by Reuters, saying that speculative moves in financial markets not reflecting fundamentals are not desirable.

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