Bessent declines to advise Bank of Japan on rate increases
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As the yen weakens again, U.S. Treasury Secretary Bescent stated that he expects Governor Ueda to make the "right judgment" regarding the Bank of Japan's interest rate hike as a response to the weaker yen. Last weekend, the yen briefly hit the low 160s against the dollar. This was due to Federal Reserve Chairman Warsh indicating a positive stance towards interest rate hikes in a speech. The government and the Bank of Japan intervened at the end …
On the 30th, U.S. Treasury Secretary Bencent, in an interview with Reuters, was asked whether the Bank of Japan should consider consecutive interest rate hikes as a measure to combat the weak yen. He said he expected Governor Kazuo Ueda to take "appropriate action" with the support of Prime Minister Sanae Takaichi. He added that the yen has been "quite restrained" recently…
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Cryptocurrency News | Cryptocurrency Prices | Market CapBessent declines to advise Bank of Japan on rate increases
Bessent's neutrality highlights the complex interplay of international influence, domestic politics, and central bank autonomy in Japan's economic policy. The post Bessent declines to advise Bank of Japan on rate increases appeared first on Crypto Briefing.
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