U.S. Treasury Secretary Bessent says the Japanese government and Bank of Japan will take measures that will lead to a stronger yen

U.S. Treasury Secretary Bessent said in an interview on CNBC TV on August 31, ``The Japanese government and the Bank of Japan will likely take measures that will lead to a stronger yen.'' "I have information that the market doesn't have," he said. Mr. Bessent is increasing pressure on the Bank of Japan to raise interest rates further.

US Treasury Secretary warns of rising interest rates, ``disorganized yen exchange rate'' is a risk

At the end of July, the Japanese and U.S. monetary authorities coordinated to intervene to buy the yen. However, in the foreign exchange market, the yen is depreciating again. "You can't influence the natural equilibrium level (of the market)," Bessent said, but "you can send a signal."

He is expected to meet with Finance Minister Satsuki Katayama on the sidelines of the G20 Finance Ministers and Central Bank Governors' Meeting, which began on the 31st. If the two sides meet, it would be the first time since the two countries embarked on coordinated foreign exchange intervention. Mr. Bessent is also scheduled to meet with Governor Kazuo Ueda.