US Treasury Secretary Scott Bessent called on Japan at a G20 meeting in Asheville on August 31 to end the economic stimulus policies launched in 2013 under Abenomics. This US pressure follows Japan spending a record $98.7 billion in August to prop up the yen. The Bank of Japan had already raised its policy rate to approximately 1% in June 2026, but expectations for another rate hike in September have significantly strengthened following Bessent’s remarks.
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