Bessent Signals Expectations for BoJ Policy Shift

US Treasury Secretary Scott Bessent has expressed his expectations of Bank of Japan (BoJ) Governor Kazuo Ueda's actions on monetary policy.

Bessent stated that he believes 'we probably reached the end' of Abenomics, a reflationary program implemented by former Japanese Prime Minister Shinzo Abe.

Abenomics was designed to stimulate economic growth and combat deflation in Japan. The program included quantitative easing, fiscal stimulus, and monetary policy changes.

Bessent's comments come ahead of his expected meeting with Ueda on the sidelines of the Group of 20 finance leaders' gathering in Asheville, North Carolina.