Bessent Urges Japan Rate Hikes Amid Economic Cooperation Talks

US Treasury Secretary Scott Bessent has advised Japanese officials that raising interest rates is the next step for Japan's economy. This recommendation was made to Finance Minister Satsuki Katayama and Bank of Japan Governor Kazuo Ueda, according to NHK reports.

In an interview with a US official, Bessent emphasized the need for rate hikes in Japan, citing no specific timing or target figures. The advice comes as part of ongoing discussions between the two countries on economic policy coordination.