Market analysis: Japan's weak GDP growth in the second quarter may prompt the Bank of Japan to hold steady.

Japan's preliminary data for second-quarter GDP growth was weaker than expected. This weak data may prompt the Bank of Japan to pause interest rate hikes as early as next month. Japan's actual GDP grew by 0.3% quarter-on-quarter in the second quarter, falling short of economists' expectations of a 0.5% increase. Year-on-year, Japan's actual gross domestic product grew at an annualized rate of 1.1%, lower than the revised 1.9% from the previous quarter, and also below economists' expected 2%. "The details are a mixed bag," said Marcel Thieliant, head of Asia-Pacific macro at Capital Economics.