BOJ Governor Ueda Wins US Treasury Praise Amid Iran-Oman Strait Talks

The Bank of Japan (BOJ) met on June 15 and 16 to discuss monetary policy. US Treasury Secretary Bessent attributed an uptick in Japan's inflation to a weak yen and energy prices, but expressed confidence that easing energy prices and stabilization of the yen could lead to lower inflation.

Besent also praised BOJ Governor Ueda for his commitment to supporting the Japanese economy. Meanwhile, talks between Iran and Oman regarding the Strait of Hormuz are ongoing. The two nations have made progress in their discussions, with Iran's Foreign Minister Spokesperson describing them as 'positive' at both technical and political levels.

The focus of these talks is on designating safe lanes for inbound and outbound traffic through the strait. US Secretary of State Rubio acknowledged that while there has been progress, no final agreement has yet been reached.