Nikkei: BOJ's Friday rate hike was influenced by US pressure to shore up the yen, following Treasury Secretary Bessent's call for "decisive" action in August
The Bank of Japan's decision on Friday to raise interest rates, a departure from its usual cautious approach, was reportedly spurred by a "currency alliance" with the US. US Treasury Secretary Scott Bessent had expressed support for "decisive" action to shore up the yen during an August meeting with BOJ Governor Kazuo Ueda, influencing policymakers to move faster.
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Source:Nikkei Asia · Source Link
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