U.S. Treasury Secretary Bessent (ベセント) said he expects the Bank of Japan to take appropriate action when asked whether it should consider a series of rate hikes to address the yen’s weakness. He made the remarks in Asheville, North Carolina, ahead of the G20 meeting.
U.S. Treasury Secretary Bessent (ベセント) said in a Reuters interview that he expects the Bank of Japan to take “appropriate action” when asked whether it should consider a series of rate hikes to address the yen’s weakness. He said the yen exchange rate was “quite contained” and suggested that its movements were not disorderly.
Bessent (ベセント) made the remarks in Asheville, the venue for the G20 Finance Ministers and Central Bank Governors Meeting beginning on the 31st. He also said he expects to meet Finance Minister Katayama Satsuki (片山さつき) and Governor Ueda (植田氏).
Regarding whether the BOJ should take a more aggressive approach to rate hikes, which would constitute monetary tightening, Bessent (ベセント) said, “I’m not going to tell them what they should do.” Referring to the economic policies of the Abe administration, he said he believed Abenomics, a reflationary policy, had probably come to an end, signaling a warning to the BOJ and the Takaichi administration.
On fiscal policy, he argued, “They should simply stand by, enjoy the benefits of Abenomics and continue it.”