Japan’s MOF rumoured to be planning JPY 37trln of new JGBs for FY2015

Bbg carrying a story from sources close to discussions and who have asked to remain anonymous

• JPY 37trln in new JGBs to be issued to fund fiscal year 2015
• planned new issuance for the current fiscal year ending March 31 is JPY 41.25trln
• total issuance for FY2015, including bonds to fund rollover of existing debt, to be more than JPY 170trln
• JGB issuance for calendar year 2015 likely to be less than JPY 155trln
• MOF expects tax revenue of JPY 54.5trln in FY2015

Bbg also reports here though that the Asahi newspaper carried a similar story earlier which reported that the MOF plans to reduce new JGB issuance to JPY36-37trln in FY2015, so the latest leaks are not exactly new

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