US Treasury’s Bessent calls on Japan to boost yen through interest rate hikes

US Treasury Secretary Scott Bessent says he believes Japan’s government and central bank will take action that leads ‌to a stronger yen, signalling a strong chance of a Japan" class="entity-link entity-organization" data-entity-id="17400" data-entity-type="organization">Bank of Japan (BOJ) interest rate hike in September.The remarks to CNBC on Monday followed those by Bessent a day earlier, when said he expected BOJ Governor Kazuo Ueda to “do the right thing” on monetary policy to combat yen declines.“I have information that the market doesn’t have, and it’s my belief that the Japanese government and the BOJ will do the things that will lead to a stronger yen,” Bessent told CNBC in an interview during a Group of 20 finance leaders’ gathering ⁠in Asheville, North Carolina.