Bessent Pressures BoJ's Ueda on Monetary Policy Ahead of G20 Meeting

US Treasury Secretary Scott Bessent has signaled to Bank of Japan (BoJ) Governor Kazuo Ueda that he expects the central bank 'to do the right thing' on monetary policy, according to Reuters.

In a recent comment, Bessent stated that he does not intend to tell the BoJ what to do but believes the end of Abenomics, a reflationary program, has been reached.

The comments come as Bessent is expected to meet Ueda on the sidelines of the Group of 20 finance leaders' gathering in Asheville, North Carolina.