BOJ Rate Hike Bets Skyrocket as Japan's Q2 GDP Surpasses Estimates
Japan's economy grew at an annualised 1.4% in Q2, exceeding the initial estimate of 1.1%, but falling short of forecasts.
The upward revision was largely driven by capital expenditure, which declined 0.9% compared to a preliminary estimate of a 1.2% contraction.
Stronger real wage growth and resilient corporate spending may reinforce expectations of a Bank of Japan rate hike to 1.25% next week.