Donald Trump is set to announce global reciprocal tariffs today, but US stocks rose and US Treasury yields and the dollar fell on hopes delays could reduce the inflation hit. Japan’s rising producer prices support another BoJ hike. And the Philippines’ central bank unexpectedly holds rates.In our bonus deep dive interview, ANZ Senior Economist Miles Workman explains the importance of New Zealand’s closely watched inflation expectations survey, ahead of next week’s live rates decision by the Reserve Bank of New Zealand. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/