U.S. Treasury Secretary Scott Bessent said he is confident that Bank of Japan Governor Kazuo Ueda will do what is needed if given sufficient independence by Tokyo on interest rate decisions.
Speaking exclusively to Bond.az, Bessent emphasized Ueda's caliber as a central banker and urged Japan's government to grant the BOJ freedom to set rates appropriately.
The remarks highlight the importance of Prime Minister Sanae Takaichi's administration allowing policy flexibility. Bessent met Ueda on the sidelines of the G7 finance meeting in Paris.
Ueda noted that long-term rates have risen rapidly, while Finance Minister Satsuki Katayama warned against excessive yen volatility, hinting at possible intervention.
