At the G20 Finance Ministers and Central Bank Governors Meeting held in the United States, BOJ Governor Ueda (植田) held a bilateral meeting with Treasury Secretary Scott Bessent and explained that they had had useful discussions. He said the countries had discussed the importance of appropriate communication to ensure price stability and other matters, and that discussions would continue, including at the next meeting. The G20 joint statement was not adopted because of opposition from China.
At the G20 Finance Ministers and Central Bank Governors Meeting held in the United States, Bank of Japan Governor Ueda (植田) held a bilateral meeting with Treasury Secretary Scott Bessent. The participants discussed the importance of appropriate communication to ensure price stability in light of changes in the global economic environment, among other topics, with representatives from other countries.
Governor Ueda (植田) said the meeting had produced useful discussions. Regarding decisions on interest-rate increases, he said the BOJ would place importance on the situation in the Middle East, AI-related developments and exchange-rate movements, and would discuss these matters at every meeting, including the next Monetary Policy Meeting.
Finance Minister Katayama (片山) explained to other countries the coordinated intervention by Japan and the United States at the end of July, describing it as a good opportunity to gain their understanding.
The G20 joint statement could not be finalized because of opposition from China, and no agreement was reached.
Overall, the meetings showed the role of the G20 as a forum for exchanging views and coordinating through dialogue, but did not produce agreement on major policy matters.