Japan finance minister Aso: Likely can’t avoid corporate tax cut to keep competitiveness

Japan finance minister Aso:

• Likely can’t avoid corporate tax cut to keep competitiveness
• Need a broad discussion of corporate tax including the tax base
• Wants the tax panel to carefully consider corporate tax

Earlier Aso trotted out some old favourites:

• Japan monetary policy is aimed at defeating deflation, not weakening the yen
• The weaker yen is a side-effect of monetary policy

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Meanwhile, USD/JPY is not doing a real lot today, its down marginally. EUR/JPY is a little lower as the EUR/USD lost 20-odd points from earlier highs. GBP/USD and GBP/JPY have also come off.