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Bessent Expects BOJ Rate Hike Ahead of G20 Meeting

Guavy AI Editorial Team
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JPY
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US Treasury Secretary Scott Bessent has weighed in on Japan's monetary policy ahead of the G20 meeting, saying he expects the Bank of Japan to 'do the right thing' when it makes its next decision.

Bessent was asked whether the BOJ should consider consecutive rate hikes to stem the yen's decline, but declined to offer specific advice.

However, his comments suggest that he believes a rate hike would be desirable, with Governor Ueda Kazuo and Prime Minister Takaichi Sanae likely to support such a move.

Bessent is set to meet Ueda on the sidelines of the G20 gathering in Asheville, North Carolina.

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