Latest news with #KatoKatsunobu
NHK
22-05-2025
- Business
- NHK
Japan, US finance chiefs reaffirm markets should decide exchange rates
Japan's Finance Minister Kato Katsunobu and US Treasury Secretary Scott Bessent have reaffirmed the principle that exchange rates should be determined by the markets. Kato and Bessent met for about 30 minutes on Wednesday on the sidelines of the conference of Group of Seven finance ministers and central bank chiefs in Banff, Canada. Kato told reporters that he asked Bessent for a review of US tariff measures. Kato said they avoided discussing exchange rate levels and agreed to continue close and constructive talks. At the Group of Seven finance leaders' meeting, Kato said the trade imbalance should be addressed not by tariffs but by boosting domestic demand and cutting the budget deficit. Other countries voiced concerns over how the uncertainty surrounding US tariffs would impact the global economy and financial markets. The finance leaders aim to issue a joint statement when they wrap up their two-day meeting on Friday. It remains to be seen to what extent the G7 can show unity on upholding free trade.
NHK
22-05-2025
- Business
- NHK
Japan, US finance chiefs did not discuss currency levels during talks
Japan's Finance Minister Kato Katsunobu and US Treasury Secretary Scott Bessent apparently did not discuss the issue of currency levels when they met on Wednesday on the sidelines of a gathering of finance leaders from the Group of Seven nations in Canada. The Treasury Department reports the two discussed matters, such as global security and the US-Japan trade issue. The department says Bessent and Kato "reaffirmed their shared belief that exchange rates should be market determined and that, at present, the dollar-yen exchange rate reflects fundamentals." It notes that the two finance chiefs did not talk about foreign exchange levels when they met last month.
NHK
13-05-2025
- Business
- NHK
Kato arranging meeting with Bessent to discuss currencies
Japan's finance minister says he is trying to arrange a meeting with the US treasury secretary next week to discuss currency rates and other issues. Kato Katsunobu has said in a news conference he is planning to attend a gathering of finance leaders from Group of Seven nations in Canada. He said he is hoping to meet Scott Bessent on the sidelines. They had a one-on-one meeting during a G20 gathering in the US last month. Finance ministry officials said Bessent did not raise the issue of currency targets, or any framework for managing exchange rates. They agreed to keep in close consultation on currency issues.
NHK
02-05-2025
- Business
- NHK
Japan finance minister: US bond holdings a bargaining chip in tariff talks
Japanese Finance Minister Kato Katsunobu has said US government bond holdings could be one of the country's bargaining chips in tariff negotiations with Washington. Kato made the comment on a TV Tokyo business news broadcast on Friday. He noted that there is a view among market players that plunges in US stocks, the dollar and Treasury bonds are what prompted US President Donald Trump to announce a 90-day halt to what he calls reciprocal tariffs. Asked whether declaring that Japan will not easily sell its US debt holdings can be a negotiating tactic, Kato replied that it can. He also said it's a matter of course to place all the country's cards on the negotiation table. But he added that whether to use them or not is a different matter. Kato also said Japan holds Treasury bonds to ensure liquidity in case it needs to intervene in the market, rather than to support the US government. US Treasury Department data show Japan is the largest foreign holder of US Treasuries. The country owned around 1.08 trillion dollars' worth as of January 2025. China is the second largest owner, with holdings worth about 760 billion dollars. The UK has about 740 billion dollars in US government debt as the No. 3 holder.
