Bessent says he is sure BOJ chief Ueda will 'do what is best', NHK reports

U.S. Treasury Secretary Scott Bessent expressed confidence in Bank of Japan Governor Kazuo Ueda's economic decisions, predicting a virtuous cycle for Japan's economy as inflation slows.

​U.S. Treasury ​Secretary ‌Scott Bessent said he ​was sure Bank of ‌Japan Governor Kazuo Ueda will "do what is best" for the ‌country's economy, public broadcaster NHK ‌reported on Wednesday.

"I do believe that part of the inflation ⁠uptick ​in ⁠Japan was a result of the weak ⁠yen and also the energy ​prices," Bessent told NHK in an ⁠interview.

As energy prices come down ⁠and ​excessive yen weakness is fixed, Japan's inflation will ⁠slow, allowing Japan and the yen to "go ⁠into ⁠a virtuous cycle," he said.