Japan and US finance chiefs referred to “Takaichinomics” at the G20 Finance Ministers and Central Bank Governors Meeting, drawing attention to its potential future impact.
At the G20 Finance Ministers and Central Bank Governors Meeting, which drew the attention of the world, Katayama (片山), Japan’s Minister of Finance, and US Treasury Secretary Bessent held talks, during which “Takaichinomics” was raised as the name of a shared economic policy. The two countries’ finance ministers indicated their intention to continue discussing its future impact.
The US Treasury Secretary expressed the view that the yen was significantly undervalued and pointed out that yen depreciation was a factor increasing inflationary pressures in Japan, while it was announced that Governor Ueda on the Japanese side had no comment on the details of the talks.
It has been reported that, taking into account the results of Abenomics promoted by former Prime Minister Abe (安倍), Secretary Bessent may have conveyed to the Japanese side his view that “this is now the era of Takaichinomics.” The Japanese side plans to continue discussions on future measures, including monetary policy.
Following the talks, an exchange of views is expected to continue on policy measures to curb yen depreciation and on the appropriate approach to monetary easing and fiscal stimulus.