Japan Finance Minister to Attend G20 Meeting Amid Yen Debate

Japanese Finance Minister Satsuki Katayama confirmed on Friday that she will attend the Group of 20's finance leaders' meeting in Asheville, North Carolina, next week. She expressed her intention to contribute to discussions on the global economy and international finance.

Markets are keenly observing whether Katayama will hold sideline meetings with U.S. Treasury Secretary Scott Bessent. Such a meeting would be significant following their coordinated currency intervention last month aimed at bolstering the sagging yen. Although the yen has recovered from a 40-year low near 164 per dollar, it has since slid back toward 160.

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I would like to contribute in discussions around the global economy and international finance.

When asked about the persistently weak yen, Katayama remarked, "The statement with Secretary Bessent on joint intervention was a very strong one and still lives." She also indicated that the administration's initiatives to boost investment and enhance Japan's growth potential would help strengthen the yen's credibility by improving its global competitiveness.

Bank of Japan Governor Kazuo Ueda is also expected to be present at the G20 gathering, though the central bank has not officially confirmed his attendance. U.S. Treasury Secretary Scott Bessent had previously stated he looked forward to meeting the BOJ chief in Asheville.

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The statement with Secretary Bessent on joint intervention was a very strong one and still lives.