The U.S. Treasury secretary expressed the view that the Bank of Japan should consider raising interest rates in response to the weak yen, indicating an intention to encourage the BOJ to pursue appropriate monetary policy ahead of a meeting with Governor Ueda. The G20 Finance Ministers and Central Bank Governors Meeting is scheduled to be held in North Carolina from 31.
U.S. Treasury Secretary Bessent said in a Reuters interview on the 30th that the Bank of Japan should consider raising interest rates in response to the weak yen, and said he expected Bank of Japan Governor Ueda to make “the right decision.” The remarks are reportedly backed by Prime Minister Takaichi.
The secretary is scheduled to attend the G20 Finance Ministers and Central Bank Governors Meeting, which will be held in North Carolina from 31, and meet with Governor Ueda. The remarks appear to represent an effort to encourage the Bank of Japan to adopt appropriate monetary policy, including an interest-rate hike, ahead of the meeting.