Following the G20 Finance Ministers and Central Bank Governors Meeting, Finance Minister Katayama denied reports that Secretary Bessent had requested a Bank of Japan rate hike, saying that no such monetary policy discussion had taken place. With it still unclear whether the exchange occurred in practice, the discrepancy between the Japanese and US accounts has come to light.
Reports that US Treasury Secretary Bessent, who is visiting the United States, requested a Bank of Japan rate hike were raised at a press conference following discussions on the first day of the G20 Finance Ministers and Central Bank Governors Meeting. Japan's Finance Minister Katayama responded that no such monetary policy discussion had taken place.
The two officials' statements are at odds, and further reporting will be needed to clarify the facts and determine how the situation develops.