According to an announcement by the U.S. Treasury Department, Secretary Bessent called on BOJ Governor Kazuo Ueda (植田和男) to maintain sound monetary policy and avoid excessive volatility in the yen. The meeting took place at the G20 Finance Ministers and Central Bank Governors Meeting.
The U.S. Treasury Department said that Secretary Bessent met with BOJ Governor Kazuo Ueda (植田和男). The meeting took place at the G20 Finance Ministers and Central Bank Governors Meeting in Asheville, North Carolina, where he called for avoiding excessive volatility in the yen exchange rate and maintaining sound monetary policy.
Secretary Bessent emphasized that yen depreciation was increasing domestic inflationary pressures, and pointed to the importance of appropriate management of Japan’s monetary policy and clear communication. Some observers believe this could further heighten market caution over yen depreciation.