<div id="readability-page-1">Faster-than-expected growth: Japan’s GDP grew 2.1% annualized in Q1, surpassing the 1.7% forecast, with gains in consumption, investment, and exports. Energy shock threat: Closure of the Strait of Hormuz has disrupted 20% of global oil supply, sending fuel prices soaring and raising inflation risks. Policy response watch: The Bank of Japan may hike rates in June as surging import costs pressure inflation and corporate profits.</div>

<p>Japan's GDP grew 2.1% annualized in Q1, exceeding the 1.7% forecast, driven by consumption, investment, and exports. However, the closure of the Strait of Hormuz has disrupted 20% of global oil supply, leading to rising fuel prices and inflation risks. The Bank of Japan may consider a rate hike in June due to increasing import costs affecting inflation and corporate profits.</p>

- Japan's GDP grew 2.1% annualized in Q1, exceeding the 1.7% forecast, driven by increased consumption, investment, and exports.  
- The closure of the Strait of Hormuz has impacted 20% of global oil supply, causing fuel prices to rise and heightening inflation risks.  
- In response to escalating import costs affecting inflation and corporate profits, the Bank of Japan is considering a rate hike in June.

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Japan’s Q1 growth beats forecasts but energy shock looms