Besant: Pressuring the Bank of Japan to raise interest rates, mastering asymmetric information

U.S. Treasury Secretary Basant's public pressure campaign to promote the appreciation of the yen has heightened market expectations for the Bank of Japan to take monetary tightening actions. He claimed to have "asymmetric information" regarding the Bank of Japan's next steps and referred to himself as a "big player."

Market expectations indicate a 25 basis point interest rate hike next week, and Basant's remarks highlight his level of involvement in the formulation of Japan's economic policy.