The U.S. Treasury secretary met with Bank of Japan Governor Ueda (植田) in Asheville and emphasized that Japan should take decisive measures in the markets and through monetary policy to correct the yen’s substantial undervaluation. The meeting was held on the occasion of the G20 Finance Ministers and Central Bank Governors Meeting.
The U.S. Treasury Department announced that Treasury Secretary Scott Bessent met with Bank of Japan Governor Ueda (植田). The meeting was held in Asheville, where Bessent expressed strong support for Japan taking decisive measures in the markets and through monetary policy to address the yen’s substantial undervaluation.
Secretary Bessent identified the yen’s weakness as one factor behind inflationary pressures in Japan and emphasized the importance of implementing appropriate monetary policy and communicating policy clearly. The two officials stressed the importance of close coordination between Japan and the United States.
In the Japanese market, the secondary-market yield on newly issued 10-year Japanese government bonds reportedly exceeded 3% on the day, reaching its highest level in 30 years. Secretary Bessent told reporters that Japan was taking the right measures.
The exchange confirmed the strengthening of U.S.-Japan coordination, and Japanese and U.S. finance officials are reportedly planning to continue monitoring market stability and appropriate movements in the yen exchange rate.