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 anticipates the recent yen movements to remain contained during a G20 finance leaders meeting in Asheville, North Carolina. He expects Bank of Japan Governor Kazuo Ueda to implement appropriate monetary policy actions with Prime Minister Sanae Takaichi's support when considering consecutive interest rate hikes to curb the yen decline.
Bessent clarified he won't dictate the Bank of Japan's decisions, stating he believes they have reached the end of Abenomics, a reflationary policy. As a longtime acquaintance of Ueda, Bessent praised him as a highly skilled economist and under-rated in terms of market savvy. When questioned about whether the yen is currently experiencing disorderly movements, Bessent affirmed that it is not a concern.
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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
