US Treasury Secretary Scott Bessent said after meeting Bank of Japan Governor Ueda Kazuo (植田 和男) that he strongly supports the appropriate conduct and communication of monetary policy to avoid excessive yen weakness. The talks were held alongside the G20 Finance Ministers and Central Bank Governors Meeting.
US Treasury Secretary Scott Bessent met with Bank of Japan Governor Ueda Kazuo (植田 和男) on 30 August. He stressed the importance of formulating and communicating appropriate monetary policy to avoid excessive exchange-rate fluctuations, and expressed strong support for Japan's market and financial measures.
The talks were held alongside the G20 Finance Ministers and Central Bank Governors Meeting in Asheville, North Carolina, in the southern United States.
The interest-rate gap between Japan and the United States is considered the main driver of the yen's decline, suggesting an intention to encourage the Bank of Japan to raise interest rates to correct the yen's weakness. The Bank of Japan is scheduled to hold its Monetary Policy Meeting on 17 and 18 September.