Japan’s PM Abe: Explained to G7 the need for policies to stimulate demand

Japanese PM Shinzo Abe is out on the wires, making a prepared speech in the country’s parliament, as he gears up for the G7 meeting scheduled this weekend.

Key Quotes:

Have to be wary of downside risks to global economy

Watching to see if risks greater than economic cycle emerge

Wants appropriate decision on sales tax hike after hearing from specialist's opinion on economic situation

Private consumption has been weaker than expected since first sales tax hike