During a bilateral meeting on the sidelines of the G20 finance ministers and central bank governors gathering in North Carolina, US Treasury Secretary Scott Bessent conveyed to Japanese Finance Minister Satsuki Katayama and Bank of Japan Governor Kazuo Ueda that steps toward higher interest rates are necessary.

According to a US official familiar with the discussions, Bessent expressed his expectation that Japanese authorities will implement measures aimed at strengthening the yen in the near term.

The exchange underscores growing international attention on Japan's monetary policy direction as global financial leaders assess currency dynamics and their broader economic implications.