The US Treasury secretary met with BOJ Governor Kazuo Ueda (植田 和男) and strongly supported market intervention and stronger monetary policy aimed at correcting yen depreciation. The meeting reportedly took place on 30 August, increasing pressure for interest-rate hikes by conveying the message directly to the BOJ governor.
The US Treasury announced that Treasury Secretary Scott Bessent met with BOJ Governor Kazuo Ueda (植田 和男) on 30 August. The secretary expressed strong support for Japan's market intervention and monetary policy measures aimed at correcting excessive yen depreciation.
Following the meeting, reports said that BOJ and Ministry of Finance officials held productive discussions at a joint press conference, and that the secretary's position was conveyed directly to the BOJ governor.
Separate reports pointed to the possibility that long-term interest rates could reach the 3% range for the first time in 30 years, and also said that pressure was being placed on Japan to raise interest rates.