凯投宏观：日本季度GDP疲软暗示日央行或推迟加息时间

Core Viewpoint - The weak GDP data for Japan in the first quarter suggests that the Bank of Japan may delay interest rate hikes longer than previously anticipated [1] Group 1: Economic Indicators - Japan's first quarter GDP data was below expectations, particularly disappointing in personal consumption, which remained flat compared to the previous quarter [1] - The impact of U.S. tariffs is expected to hinder Japan's export growth, leading to a more pessimistic economic outlook from the Bank of Japan [1] Group 2: Monetary Policy Implications - The likelihood of the Bank of Japan raising interest rates as early as July appears to be decreasing based on the current economic indicators [1]