Latest news with #monetary tightening
Reuters
5 days ago
- Business
- Reuters
Bessent says Japan 'behind the curve' in monetary tightening, in Bloomberg interview
TOKYO, Aug 14 (Reuters) - U.S. Treasury Secretary Scott Bessent said Japan is being late in handling monetary tightening during an interview with Bloomberg Television. Bessent also said that U.S. Treasury yields are feeling the impact of overseas developments, including from Japan and Germany. "There's definitely leakage from — the Japanese have an inflation problem," Bessent said in the interview. Bessent mentioned that he had spoken with Bank of Japan Governor Kazuo Ueda. "My opinion, not his — they're behind the curve. So they're going to be hiking," he added. The U.S. Federal Reserve should lower the policy interest rate at least by 1.5%, Bessent also said, suggesting the central bank execute the rate cut by 50 basis points in September.
Yahoo
5 days ago
- Business
- Yahoo
Bessent says Japan 'behind the curve' in monetary tightening, in Bloomberg interview
TOKYO (Reuters) -U.S. Treasury Secretary Scott Bessent said Japan is being late in handling monetary tightening during an interview with Bloomberg Television. Bessent also said that U.S. Treasury yields are feeling the impact of overseas developments, including from Japan and Germany. "There's definitely leakage from — the Japanese have an inflation problem," Bessent said in the interview. Bessent mentioned that he had spoken with Bank of Japan Governor Kazuo Ueda. "My opinion, not his — they're behind the curve. So they're going to be hiking," he added. The U.S. Federal Reserve should lower the policy interest rate at least by 1.5%, Bessent also said, suggesting the central bank execute the rate cut by 50 basis points in September. Sign in to access your portfolio
Bloomberg
07-08-2025
- Business
- Bloomberg
Japan's Public Workers Set to Get Largest Pay Hike in 34 Years
Japan's civil servants are set to receive the biggest pay increase in 34 years, a move that could further reinforce the virtuous cycle of wage and price growth long sought by the Bank of Japan as a precondition for continuing monetary tightening. The National Personnel Authority recommended Thursday a 3.62% increase in average monthly base pay for public employees in the current fiscal year. This would mark the largest rise since 1991 and, when combined with an automatic bump that already kicked in, bring their total wage gain this year to 5.1%. The change will affect roughly 280,000 workers, according to a government official.
