No Request from Bessent for Japan Policy Change: Katayama

Tokyo, Sept. 3 (Jiji Press)–Japanese Finance Minister Satsuki Katayama indicated Thursday that there has been no request from U.S. Treasury Secretary Scott Bessent for a change in the economic policy of the administration of Japanese Prime Minister Sanae Takaichi. Bessent “did not make any specific request,” Katayama told reporters at the prime minister’s office in Tokyo after briefing Takaichi on a recent meeting of finance ministers and central bank chiefs of the Group of 20 advanced and emerging economies. Takaichi looked relieved after receiving the report, Katayama said. Katayama and Bessent were among the participants of the G20 gathering, held in Asheville, North Carolina, on Monday and Tuesday. At a press conference after the G20 meeting, Bessent said he told the Japanese side that the country, which has continued massive monetary easing and fiscal expansion, should “stop the reflation.” The remark was interpreted by some as a request for the Takaichi administration to revise its economic policy. But Katayama said, “All measures taken by the administration, including budget reform and growth strategy, have been highly regarded.” A U.S. media report has said Bessent, during his visit to Japan in May, questioned Katayama why the Bank of Japan has not been granted independence. Katayama denied the report, saying, “There was no reference (to the BOJ’s independence).” END [Copyright The Jiji Press, Ltd.]