U.S. Treasury Secretary Scott Bessent also urged central bank Gov. Kazuo Ueda to anchor inflation expectations and avoid excessive yen volatility through sound monetary policy.
Treasury Secretary Scott Bessent voiced strong support for “decisive” monetary steps to combat yen weakness in a meeting with Bank of Japan Gov. Kazuo Ueda, the Treasury Department said, cementing the case for a Japanese rate hike this month. In a meeting with Ueda, Bessent also urged the BOJ to anchor inflation expectations and avoid excessive yen volatility through sound monetary policy, the Treasury Department said in a statement Tuesday.
The remarks, which underline Bessent’s recent calls for the BOJ to raise interest rates, bolster the case for the central bank to hike borrowing costs at its next meeting on Sept. 17-18.
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