
Rate check
Japan, supply shocks and EM FX
In the latest episode of Rate Check, the hosts are joined first by Oliver Harvey (Head of CEEMEA and LatAM FX research). They start by discussing the rise in US yields above 5%, and why its drivers make for a more cautious outlook on EM FX. The trio then discuss the series of global supply shocks and its policy implications. In the second half of the episode, the hosts are then joined by Shoki Omori (Chief Japan Fixed Income Strategist). They discuss the takeaways from last week’s Bank of Japan rate hike, the key drivers of Japanese rates going forward, and the interesting normalisation of inflation domestically.

