Bessent Signals BOJ September Rate Hike, Backing Stronger Yen
Updated
Updated · The Japan Times · Sep 1
Bessent Signals BOJ September Rate Hike, Backing Stronger Yen
3 articles · Updated · The Japan Times · Sep 1
Summary
Scott Bessent said he sees a strong chance of a Bank of Japan rate hike in September, telling CNBC he expects action that would strengthen the yen.
At the G20 finance leaders' gathering in Asheville, North Carolina, the U.S. Treasury secretary said he had information the market lacks and believes Tokyo and the BOJ will act to reverse yen weakness.
His latest remarks sharpen comments from Sunday, when he said BOJ Governor Kazuo Ueda should “do the right thing” on monetary policy to combat the currency's declines.
The signal matters because it points markets toward tighter Japanese policy after prolonged yen weakness, with Bessent framing a stronger currency as the likely outcome.