Japan's second-quarter GDP growth was weaker than expected preliminary data. This weak data may prompt the Bank of Japan to suspend interest rate hikes as soon as next month. Japan's real GDP grew 0.3% month-on-month in the second quarter, falling short of the 0.5% expected by economists. Japan's real GDP grew at an annualized rate of 1.1% in the second quarter, lower than the 1.9% revised in the previous quarter, and lower than the 2% expected by economists. “The details are mixed,” said Marcel Thieliant, head of Asia Pacific at Kaitou Macro.

Japan's second-quarter GDP growth was weaker than expected preliminary data. This weak data may prompt the Bank of Japan to suspend interest rate hikes as soon as next month. Japan's real GDP grew 0.3% month-on-month in the second quarter, falling short of the 0.5% expected by economists. Japan's real GDP grew at an annualized rate of 1.1% in the second quarter, lower than the 1.9% revised in the previous quarter, and lower than the 2% expected by economists. “The details are mixed,” said Marcel Thieliant, head of Asia Pacific at Kaitou Macro.