Katayama says she had no talks on Japan rate hikes with Bessent

Japanese Finance Minister Satsuki Katayama met with U.S. Treasury Secretary Scott Bessent to discuss international economic coordination. Following the meeting, Katayama clarified that no discussions regarding potential interest rate hikes in Japan took place during their talks, emphasizing that such monetary policy decisions remain the sole responsibility of the Bank of Japan.

Despite the lack of discussion on interest rates, the two officials reached an agreement to continue coordinating on currency matters to ensure orderly movements in the yen. This cooperation is viewed as essential for maintaining global market stability, particularly as the yen faces downward pressure, recently trading near 160 per dollar.