Tax hike cushion, minimum wage, whitelist exclusion

This week brought more evidence that the swing in consumer spending around October’s sales tax hike is likely to be much more modest than around the previous hike in 2014. Implementation of the government’s flagship measure to cushion the blow of October’s sales tax hike is ahead of schedule and the latest consumption data also gives cause for optimism. Meanwhile, the trade spat with South Korea escalated further today.