Bessent expects Japan to take action to boost yen, signals BOJ rate-hike chance
U.S. Treasury Secretary Scott Bessent said he believes Japan's government and central bank will take action that leads to a stronger yen, CNBC reported on Monday, signaling a strong chance of a Bank of Japan interest rate hike in September.
U.S. Treasury Secretary Scott Bessent believes that Japan's government and central bank will take measures to strengthen the yen, according to CNBC on Monday. This belief signals a high probability of a Bank of Japan interest rate increase in September. Bessent's comments on Sunday echoed his earlier statement that he anticipates Bank of Japan Governor Kazuo Ueda to take an appropriate action on monetary policy to counteract the yen's decline.
During a Group of 20 finance leaders' meeting in Asheville, North Carolina, Bessent revealed in an interview that he possesses information not currently available to the market, expressing his conviction that both the Japanese government and the Bank of Japan will implement actions resulting in a stronger yen.
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- Japan’s Katayama: Confirmed with Bessent that continued, coordinated action on FX is needed fxstreet.com
- Bessent expects Japan to take action to boost yen, signals BOJ rate-hike chance straitstimes.com
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- Bessent says he believes Japan will take action leading to stronger yen channelnewsasia.com
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