October 30, 2019 / 2:57 AM / 14 days ago

REFILE-Hit to Japan consumption by sales tax hike unlikely to be as bad as 2014 – Moody’s

(Corrects day in the first paragraph to Wednesday)

TOKYO, Oct 30 (Reuters) - Japan’s consumption is unlikely to be hit as hard from October’s sales tax hike as it was by the previous hike in 2014, a senior official at rating agency Moody’s Investors Service said on Wednesday.

Japan’s credit profile remains quite resilient amid expectations of a global cyclical slowdown over the next year or so, said Christian de Guzman, a senior vice president of sovereign ratings at Moody’s.

Japan’s national sales tax hike to 10% from 8% kicked in on Oct. 1.

It was the first time the levy was hiked since April 2014, when it was raised to 8% from 5%.

Reporting by Daniel Leussink; Editing by Richard Borsuk

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