U.S. Treasury Secretary Scott Bessent signaled support for central bank independence in a post following a meeting with Japanese Finance Minister Satsuki Katayama.
“The Government’s willingness to allow the Bank of Japan policy space will be key to anchoring inflation expectations and avoiding excess exchange rate volatility,” he wrote in the X post Wednesday.
Prime Minister Sanae Takaichi has long been a proponent of the easy money and fiscal largesse of Abenomics, and this has both cheered the markets and been a cause for concern, as inflation remains high in Japan.
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