Abe's latest budget plans passed through the upper house
The Japanese parliament has approved the ¥96.72tn budget for FY2016. What's far from being decided is the next sales tax hike and any extra budget measures Abe will have to take.
While Abe has been steadfast that the sales tax will happen, Reuters sources have said that the government is beginning to consider a delay as well as more fiscal stimulus (which Eamonn had earlier on).
Abe is expected to make a final decision on the sales tax late in May, around the time Japan is hosting a G7 summit.
There's some scope for the sales tax decision to impact markets. If it's delayed then the market is likely to view that negatively as it will be read that the economy is not strong enough to wear a hike. If Abe does go ahead then the might be some relief moves on the basis that Abe is sticking to his guns.
