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Bessent urges the BoJ to anchor inflation expectations and curb FX volatility
In a meeting with Bank of Japan Governor Kazuo Ueda, the US Treasury Secretary said Japan’s steps should be supported while avoiding excess yen exchange-rate swings.
US Treasury Secretary Scott Bessent said he stressed the importance of clear monetary policy formulation and communication to help anchor inflation expectations during a meeting with Bank of Japan Governor Kazuo Ueda, according to FXStreet. Bessent also said he supports Japan’s decisive market and monetary steps aimed at addressing what he described as the substantial undervaluation of the Japanese yen.
He added that the BoJ should avoid excess foreign exchange rate volatility, as part of the effort to keep policy aligned with expectations, FXStreet reported.