Former Adviser to Abe: Japan should delay sales tax hike

Comments from Hondo Etsuro – former economic adviser to Japan's Prime Mminister Shinzo Abe – are crossing the wires via Bloomberg that Abenomics will fail for real if the sales tax is raised now. 

Japan is scheduled to raise sales tax from 8% to 10% in October. 

Hondo believes the hike should be put on hold until the Bank of Japan's 2% inflation objective is reached. It is worth noting that Hondo has convinced Abe to delay the tax hike twice before and is determinend to do so again.