Bessent says yen moves ‘pretty contained’ and not disorderly
Scott Bessent said he expects BOJ governor Kazuo Ueda, backed by prime minister Sanae Takaichi, to 'do the right thing' on policy amid the yen’s decline.
US Treasury Secretary Scott Bessent expects Japanese currency moves to remain contained during the upcoming G20 finance leaders' meeting in Asheville, North Carolina. Bessent, who has known Bank of Japan Governor Kazuo Ueda for 15 years, believes Ueda is a savvy economist. Bessent stated that he does not believe the yen is currently making disorderly moves, suggesting the recent declines are not indicative of the kind of intervention that led to a rare joint Japan-US action last month.
Bessent also expressed confidence in Ueda's decision-making, stating he believes the BOJ governor would make the right choice on monetary policy with the support of Prime Minister Sanae Takaichi, even though Bessent refrained from instructing the central bank on rate hikes.
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- Bessent says yen moves ‘pretty contained’ and not disorderly straitstimes.com
- Bessent says yen moves ’pretty contained’ and not disorderly investing.com
- Bessent says yen moves ‘pretty contained’ and not disorderly businesstimes.com.sg
- Bessent says yen moves ‘pretty contained’ and not disorderly freemalaysiatoday.com
- Bessent says yen moves 'pretty contained' and not disorderly channelnewsasia.com
