US Treasury Secretary Bessent held talks with Bank of Japan Governor Ueda Kazuo (植田和男) and revealed remarks calling on the relevant ministers to correct excessive yen weakness and strengthen Japan's monetary policy. Ahead of the Bank of Japan's next meeting, he is reported to have increased pressure on exchange-rate stability and policy management.
On 30 August, the US Treasury secretary met with Bank of Japan Governor Ueda Kazuo (植田和男). The talks took place ahead of the G20 Finance Ministers and Central Bank Governors Meeting, and covered the possibility of coordinated intervention to stabilize Japan's markets.
The remarks pointed out that appropriately formulating and communicating monetary policy is important to avoid excessive exchange-rate volatility. They also expressed the view that yen weakness is regarded as one factor behind upward pressure on prices in Japan.
The US Treasury secretary posted on X, along with photographs of the meeting, that he had discussed the normalization of Japan's monetary policy. Ahead of the Bank of Japan's next Monetary Policy Meeting, scheduled for 17–18 September, the talks are reported to have affected the operation of Japan's monetary policy.