Exchange Rate Levels Not Discussed in Kato-Bessent Talks
Banff, Canada, May 21 (Jiji Press)--The U.S. Treasury Department said Wednesday that Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato did not discuss foreign exchange levels in their meeting the same day.
In their talks on the sidelines of a Group of Seven meeting of finance ministers and central bank chiefs in Banff, Canada, the two finance chiefs "reaffirmed their shared belief that exchange rates should be market determined and that, at present, the dollar-yen exchange rate reflects fundamentals," the department said.
It added that the ministers discussed the Japan-U.S. economic relationship, including global security and the two countries' ongoing trade negotiations.
In their previous meeting in Washington on April 24, Bessent and Kato reaffirmed that excessive fluctuations of foreign exchange rates have negative effects on the economy and financial stability.
(2025/05/22-09:07)
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