The Bank of Japan's decision and the underlying data

The BoJ decided not to change the overnight rate, which was not a surprise. However data that was released in the same time frame is concerning. GDP data was released which showed that annualized Q1 GDP growth of 2.4%, was a sharp sequential decline from a revised 5.0% (previously 5.5%). SeekingAlpha quotes a Tokyo analyst to the effect that "the BoJ will hold at 0.5% over the next three to six