US Treasury Secretary Urges Japan to Raise Interest Rates to Strengthen Yen

US Treasury’s Bessent calls on Japan to boost yen through interest rate hikes

US Treasury Secretary Scott Bessent says he believes Japan’s government and central bank will take action that leads ‌to a stronger yen, signalling a strong chance of a Bank of Japan (BOJ) interest rate hike in September. The remarks to CNBC on Monday followed those by Bessent a day earlier, when said he expected BOJ Governor Kazuo Ueda to “do the right thing” on monetary policy to combat yen declines. “I have information that the market doesn’t have, and it’s my belief that the Japanese...

By Reuters