Bessent urges BOJ chief to combat weak yen with ‘decisive’ monetary steps
The US joined Japan in a rare joint yen-buying intervention in July to prevent a currency and bond selloff from spilling into global markets.
US Treasury Secretary Scott Bessent urged the Bank of Japan's governor, Kazuo Ueda, to implement decisive monetary measures to address the weak yen, during a discussion at the G20 finance ministers and central bank governors meeting in Asheville, North Carolina. Bessent highlighted the necessity of anchoring inflation expectations and curbing yen volatility through robust policy.
He also advocated for the BOJ to prevent excess exchange rate fluctuations. The remarks align with his previous appeals for the Bank of Japan to raise interest rates, thereby reinforcing the case for a rate hike at the upcoming meeting on September 17-18.
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- Bessent urges BOJ chief to combat weak yen with 'decisive' monetary steps channelnewsasia.com
- Bessent urges BOJ chief to combat weak yen with ‘decisive’ monetary steps freemalaysiatoday.com
- Bessent urges BOJ chief to combat weak yen with ‘decisive’ monetary steps japantimes.co.jp
