U.S. Treasury Secretary Scott Bessent declined to say whether the Bank of Japan should continue raising interest rates in an interview with NHK, saying he respects central bank independence and trusts Governor Kazuo Ueda’s economic judgment. The remarks mark a more cautious tone from Bessent, who had previously called on Japan to tighten monetary policy. According to the report cited by Techub News, the BOJ had already lifted rates to 1% through hikes in December 2025 and multiple moves in 2026, leaving markets focused on whether policymakers will tighten again at meetings scheduled for September and October. The report also said the United States and Japan had jointly intervened in currency markets in late July and early August in a rare move to support the yen.
U.S. Treasury Secretary Scott Bessent declined to offer advice on whether the Bank of Japan should continue raising interest rates in an interview with NHK, saying he respects central bank independence and trusts BOJ Governor Kazuo Ueda’s economic judgment.
Techub News, citing CryptoBriefing, said Bessent had previously urged Japan to tighten monetary policy, but his stance has turned more cautious recently.
Markets watch the BOJ’s next meetings
The Bank of Japan had already raised rates to 1% through a move in December 2025 and multiple hikes in 2026, and markets are watching whether it will tighten again at its September to October meetings.
The report added that the United States and Japan had earlier carried out a rare joint intervention in foreign exchange markets from late July to early August to support the yen.
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