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.
- Country:
- Japan
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.
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