Governor Ueda (植田), who is visiting the United States, held a one-on-one meeting with Treasury Secretary Bessent (ベッセント) on the 1st and had productive discussions, but declined to comment on the details. Differences in perceptions over the Japanese side's remarks and future policy direction were raised at a joint press conference following the G20 meeting of finance ministers and central bank governors from the Group of 20 countries and regions.
Bank of Japan Governor Kazuo Ueda (植田 和男) said during his visit to the United States that he held a one-on-one meeting with Treasury Secretary Bessent (ベッセント) and had productive discussions on exchange rates, monetary policy and other topics. He declined to comment on the details.
Regarding a separate meeting with the secretary held on 30 August, the US side expressed the view that formulating appropriate monetary policy and maintaining communication were important to avoid excessive exchange-rate volatility, and pointed to the weaker yen as a factor driving up domestic inflationary pressures. Meanwhile, it has also been reported that monetary policy was not raised as a topic at the Japanese side's press conference.
At a joint press conference after the G20 meeting, there were reports that Secretary Bessent (ベッセント) expressed the view that BOJ rate hikes were important, while Japan's finance minister explained that the topic had not been discussed at the meeting. Secretary Bessent (ベッセント) expressed the view that Abenomics had ended and that a policy shift was needed to promote price increases going forward.