US Treasury Secretary Bessent released an overview of his meeting with BOJ Governor Ueda, expressing strong support for Japan's market and monetary policy measures. The meeting was held on 30 August in Asheville, North Carolina, US.
The US Treasury released an overview of its meeting with BOJ Governor Kazuo Ueda (植田 和男). Treasury Secretary Bessent conveyed strong support for Japan taking decisive market and monetary policy measures to correct the yen's undervaluation. The meeting took place in Asheville, North Carolina, and Japan and the US shared concerns about rising long-term interest rates against a backdrop of deteriorating government debt.
Bessent emphasized the importance of appropriately formulating and communicating monetary policy to stabilize inflation expectations and avoid excessive foreign exchange fluctuations. The overview also noted that, in a CNBC interview on 31 August, he had said that Japan would take measures leading to a stronger yen, suggesting that the views of both Japan and the US reflected a focus on market stability.
In the Tokyo market, it was reported that the yield on long-term bonds exceeded 3% in a single day, the first time in 30 years. Officials explained that yields have been rising globally as well, while pointing to the difficulty of analyzing the factors behind interest-rate movements.
The article only provides an overview of the meeting between Bessent and Governor Ueda and does not suggest any specific future policy developments or investment decisions.