U.S. Treasury Secretary Scott Bessent expressed hope that the Bank of Japan would “make the right decision” on measures to address yen depreciation. He also addressed a question about whether the BOJ should consider consecutive rate hikes as a measure to counter yen weakness.
U.S. Treasury Secretary Scott Bessent commented on the Bank of Japan’s measures to address yen depreciation, saying he expected the central bank to “make the right decision” on monetary policy. Following a Reuters report, he expressed his view on the 30th in response to a question about whether the BOJ should consider consecutive rate hikes as a measure to counter yen weakness.
Regarding the yen’s recent movements, he said the exchange rate was “fairly contained” and explained that it was not moving in a disorderly manner.
He also disclosed a policy of announcing new “secondary sanctions” every week to increase economic pressure on Iran, and indicated that banks would be the initial focus.
The remarks are providing material for readers to watch developments in the Bank of Japan’s policy decisions and the U.S. policy of sanctions against Iran.