Bessent urges BOJ chief to combat weak yen with 'decisive' monetary steps

U.S. Treasury Secretary Scott Bessent publicly backed Bank of Japan Governor Kazuo Ueda's call for decisive monetary actions to address the yen's weakness during a meeting at the G20 finance ministers and central bank governors conference in Asheville, North Carolina. Bessent also urged the BOJ to stabilize inflation expectations and curb excessive yen volatility through prudent monetary policy.

The comments support the case for the central bank to increase borrowing costs at its September 17-18 meeting, as weak yen has driven up import prices and broader inflation in Japan.