Bessent Backs BOJ Decision: 'We've Probably Reached End of Abenomics'

US Treasury Secretary Scott Bessent expects Bank of Japan Governor Kazuo Ueda to make a crucial decision on monetary policy. Speaking in an interview, Bessent expressed his confidence that Ueda will 'do the right thing.'

Bessent was asked whether the BOJ should consider consecutive interest rate hikes to combat the weak yen. He declined to provide specific advice, saying, 'I'm not going to tell them what to do.'

However, Bessent did offer his thoughts on the legacy of Abenomics, a reflationary program implemented by former Japanese Prime Minister Shinzo Abe. According to Bessent, Japan has likely reached the end of this program.