Too Early to Assess BOJ Negative Rates: Fitch's Colquhoun
Japanese stocks swung from a loss to a gain as investors weighed whether data showing the economy grew faster than forecast in the first quarter reduces the need for further stimulus and a delay to a planned sales tax hike. Data showed gross domestic product expanded an annualized 1.7 percent in the three months through March, beating economist estimates for 0.3 percent growth, and averting a recession. The previous quarter was revised to a show 1.7 percent contraction, worse than the initial estimate of a 1.1 percent drop. Fitch Head of Asia Pacific Sovereign Ratings Andrew Colquhoun discusses with Bloomberg's Anna Edwards on "Countdown."