US Urges Japan to Raise Rates and End Stimulus
US Treasury Secretary Scott Bessent urged Japan to accelerate interest rate hikes and abandon large economic stimulus programs to defend the weakening yen. The remarks put mounting pressure on Bank of Japan Governor Kazuo Ueda ahead of a crucial policy meeting.
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United States Treasury Secretary Scott Bessent urged Japan to accelerate interest rate hikes and abandon outdated stimulus policies, impacting the USD/JPY currency pair. The remarks follow a joint forex intervention to support the yen, increasing pressure on policymakers in Tokyo. Washington aims to curb currency volatility and prevent broader spillovers to U.S. Treasury yields.
