Japan's Finance Minister Downplays BOJ Rate Hike Push Amid Joint Intervention

Japan's Finance Minister Satsuki Katayama downplayed reports that Treasury Secretary Scott Bessent has been pushing for the Bank of Japan to raise its policy rate. Speaking on September 1, 2026, in Asheville, North Carolina, where she is attending a Group of 20 meeting of finance chiefs, Katayama stated that she and Bessent share the view that their recent joint intervention in the currency market was beneficial.

Katayama emphasized the importance of orderly movements in the yen to maintain stability in global financial markets, including US markets. She noted that continued, coordinated efforts by Japan and the United States will help achieve this shared objective.