Bessent Urges BOJ to Take Decisive Action Against Yen Weakness

US Treasury Secretary Scott Bessent met with Bank of Japan Governor Kazuo Ueda at the G20 finance ministers' and central bank governors' meeting in Asheville, North Carolina.

Bessent urged the BOJ to take 'decisive' monetary steps to combat yen weakness, which has pushed up import prices and contributed to domestic inflationary pressures in Japan.

The two officials met on August 30, just before the G20 finance leaders meeting ended on Tuesday, September 1.

Bessent expressed strong support for 'Japan's decisive market and monetary steps' to address the undervaluation of the yen, which he noted has contributed to domestic inflationary pressures in Japan.