September 18, 2014 / 6:43 AM / 3 years ago

Japan banking lobby head: govt should raise sales tax as planned

TOKYO, Sept 18 (Reuters) - The head of Japan's banking industry body said on Thursday that the government should carry out a hike in the sales tax as planned unless the economy shows a big decline.

Nobuyuki Hirano, chairman of the Japanese Bankers Association, made the comment at a regular news conference.

Prime Minister Shinzo Abe must decide by the end of the year whether to proceed with a previously approved plan to raise the sales tax to 10 percent from 8 percent in 2015, after a hike from 5 percent in April hit the economy hard. He has said the decision would hinge on the strength of economic indicators for the current quarter. (Reporting by Taiga Uranaka; Editing by Chris Gallagher)

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