Bessent Urges BOJ Chief to Combat Weak Yen with ‘Decisive’ Monetary Steps
Bessent said the Bank of Japan should take decisive steps to curb yen weakness and anchor inflation expectations, backing a possible September rate hike.
- Treasury Secretary Scott Bessent met with Bank of Japan Governor Kazuo Ueda in Asheville, North Carolina, urging "decisive" monetary steps to combat persistent yen weakness.
- Japan faces mounting inflation pressures as a weak yen increases import costs, prompting the Bank of Japan to consider a rate hike this month to anchor expectations.
- During a separate discussion on Monday, Bessent and Japanese Finance Minister Satsuki Katayama agreed to coordinate on "orderly" yen moves, emphasizing sound policy to avoid exchange rate volatility.
- Markets now near fully price in a September rate increase, as the Treasury Department's statement effectively locks the Bank of Japan into taking decisive action.
- A September hike could fuel market bets on quarterly rate increases, marking a shift from the Bank of Japan 's current cycle of roughly two hikes annually since 2024.
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U.S. Treasury Secretary Scott Besant said, “I strongly support Japan taking decisive measures to address the significant depreciation of the yen.” In Japan, voices are being raised questioning whether the U.S. government is intervening excessively in its economic policy. On the 1st (local time), the U.S. Treasury Department [announced] Secretary Besant [held] in Asheville, N.C.
The Japan Times
Business TimesBessent urges BOJ chief to combat weak yen with ‘decisive’ monetary steps
U.S. Treasury Secretary Scott Bessent also urged central bank Gov. Kazuo Ueda to anchor inflation expectations and avoid excessive yen volatility through sound monetary policy.
Bessent Expects BOJ to ‘Do the Right Thing’ on Policy
US Treasury Secretary Scott Bessent said he expects Bank of Japan Governor Kazuo Ueda “to do the right thing” on monetary policy, Reuters reported, the latest comments from the Treasury secretary to fuel expectations of an early rate move.
Forbes, the world's most well-conceived business and economic magazine. President of the BOJ said that the institution will assess the high inflation risks, while the United States charges measures against the devaluation of the yen The post Banco do Japan Pode Elevar Juros in September appeared first in Forbes Brazil.
Key takeaways During a recent meeting of G20 financial leaders in Asheville, North Carolina, U.S. Treasury Secretary Scott Bessent met with Kazuo Ueda, Governor of the Bank of Japan (BOJ), to discuss the instability of the Japanese currency. According to a statement from the Treasury Department, Bessent argued […]
Scott Bessent Pushes BOJ to Act as Yen Volatility Rattles Global Markets
Scott Bessent wants the Bank of Japan to get its act together. The hedge fund manager came out publicly urging… Read the original on Scott Bessent Urges Bank of Japan to Address Yen Volatility Impacting Global Markets. For more crypto news and analysis, visit TheCurrencyAnalytics.com.
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