U.S. Treasury Secretary Scott Bessent met with BOJ Governor Kazuo Ueda (植田和男) and emphasized the importance of explaining appropriate monetary policy to avoid excessive yen depreciation. The meeting took place alongside the G20 Finance Ministers' Meeting, where they also discussed the BOJ's policy decisions and future developments.
U.S. Treasury Secretary Scott Bessent and BOJ Governor Kazuo Ueda (植田和男) met on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting held in Asheville, North Carolina, in the southern United States.
According to the U.S. Treasury Department, Bessent emphasized the importance of formulating and explaining appropriate monetary policy to avoid excessive yen depreciation, and expressed strong support for Japan's decisive market and financial measures. The interest-rate differential between the United States and Japan is seen as the primary cause of yen depreciation, suggesting an intention to encourage the BOJ to take steps to correct it.
The two sides confirmed the importance of close U.S.-Japan coordination on shared economic priorities. The BOJ's next Monetary Policy Meeting is expected to take place on 17 and 18 September, with discussions aimed at correcting yen depreciation expected to be a focus going forward.