US Treasury Calls on BOJ to Hike Rates to Correct Yen Weakness
The US Treasury called on the Bank of Japan to raise interest rates to strengthen the yen, stepping much deeper into policy recommendations for Tokyo than before in its semiannual currency report.
'BOJ policy tightening should continue to proceed in response to domestic economic fundamentals including growth and inflation, supporting a normalization of the yen's weakness against the dollar and a much-needed structural rebalancing of bilateral trade,' the Treasury Department said in a report released Thursday in Washington.
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