Japan Isn’t Being Asked To Hike Interest Rates By Bessent, Trade Negotiator Says

Japan’s chief trade negotiator Ryosei Akazawa said US Treasury Secretary Scott Bessent isn’t directly asking Japan to hike interest rates, a day after Bessent moved markets by describing the Bank of Japan as being behind the curve in fighting inflation.

“I’m looking closely at what he said, but is he really saying he wants Japan to hike rates? He’s not,” Akazawa told reporters Friday. “He’s saying he thinks Japan is behind the curve, but Japan will likely continue to hike rates. He’s not saying Japan should do something on rates.”