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Exclusive-Bessent says BOJ's Ueda can deliver if Tokyo grants freedom on rates

By David Lawder Reuters

Updated May 19, 2026 7:11 AM

U.S. Treasury Secretary Scott Bessent poses for a photo ahead of a G7 finance ministers and central bank governors meeting in Paris, France, May 18, 2026. REUTERS/Tom Nicholson Tom Nicholson Reuters

PARIS - U.S. Treasury Secretary Scott Bessent said on Tuesday he is confident Bank of Japan Governor Kazuo Ueda will do "what he needs to do" if granted sufficient independence by Japan's government, signalling Washington's desire for further rate hikes by the central bank.

"I think he's an excellent central banker, and if they will give him the room to do what he will do, needs to do, I am confident that they will have great monetary policy," Bessent told Reuters in an exclusive interview.

The remarks reaffirm Bessent's long-standing confidence in Ueda while signalling that the success of Japan's monetary strategy will hinge in part on Prime Minister Sanae Takaichi's administration allowing the central bank freedom over interest rate decisions.

(Reporting by David Lawder and Makiko Yamazaki, Editing by Alexandra Hudson)

French Finance Minister Roland Lescure, Governor of the Bank of Japan Kazuo Ueda, and Governor of Banque de France Francois Villeroy de Galhau pose for a photo ahead of a G7 finance ministers and central bank governors meeting in Paris, France, May 18, 2026. REUTERS/Tom Nicholson Tom Nicholson

Copyright Reuters or USA Today Network via Reuters Connect.

This story was originally published May 19, 2026 at 6:52 AM.

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