— This is the script of CNBC's news report for China's CCTV on March 31, Monday.
Welcome to the CNBC Business Daily.
Japan wraps up its 2012 / 2013 fiscal year today.
And we're one day away from the impending sales tax hike over there.
Big question is: what kind of impact is it going to have on the Japanese economy?
Here's what some of our analysts are expecting.
[Nicholas Weindling, Portfolio Manager at JP Morgan Asset Management] "Countries put up consumption tax all the time, it doesn't destabilize the economies. yes there's a bump in the GDP but everybody knows that's going to happen, so we're not overly concerned about the consumption tax hike."
[Tony Nash, Vice President, IHS] "I think we're going to see the Q2 downside to consumption larger than the Q1 bump in consumption and then Q3 will be marginally positive but you're right it's dangerous, i think Abenomics is coming to a point where it's time to put up."
[Nicholas Smith, Japan Strategist at CLSA] "You've got 3 percentage points on to consumption tax against basically 1.5 percent on inflation. so if the retailers eat that consumption tax then we're in to deflation in month one. So i would've said why wait on moving the monetary steering wheel because if you don't you'll end up needing a huge monetary tow truck to get you out later."
Sri Jegarajah, reporting from CNBC's Asian headquarters.