BANGKOK -- Japanese Finance Minister Satsuki Katayama on Thursday said Japan had flagged concerns about market volatility during the Group of 20 finance ministers and central bank governors meeting in Bangkok as long-term interest rates climb and currencies fluctuate.

The G20 meeting took place on the sidelines of the International Monetary Fund and World Bank annual meetings which run through Sunday. The Group of Seven advanced economies will hold a meeting later the same day.

"Given the sharp market volatility, we reaffirmed the G20 accord on foreign exchange, including on currency intervention," Katayama told reporters, adding that there were no objections among the member countries.

"Countries also raised concerns about interest rates," she said, explaining that there are several drivers of inflation, including higher energy prices, as well as financing related to artificial intelligence and other "corporate bond issuance." These have "contributed to higher, or rather more volatile, interest rates," she said.

The meeting failed to adopt a joint statement or produce a chair's summary. It was the first time since 2018 that a G20 finance ministers' meeting held on the sidelines of the IMF-World Bank annual gathering concluded without an outcome document.

The Bangkok meeting, the final in-person gathering of G20 finance ministers under the U.S. presidency this year, was expected to provide an opportunity for countries to finalize their positions on fiscal and financial issues ahead of the December G20 summit.

This is especially important as countries grapple with a global energy crisis stemming from the protracted Middle East conflict, upside risks to inflation and mounting fiscal debt, which has pushed government bond yields higher.

In Japan, fiscal fears have driven benchmark JGB yields to a multidecade high, especially as the country moves ahead with a consumption tax cut on food.

On fiscal policy, Katayama said, "There was no particular change in the way it was discussed" during Thursday's G20 meeting. "We always speak about the importance of fiscal sustainability, so Japan's position has already been explained. I don't think any country went beyond stating those general principles," she added. Delegates from G20 member countries gather at the meeting venue in Bangkok on Oct. 15.

Finance ministers and central bank governors from the G20 last gathered in Asheville, North Carolina, in the U.S., over the summer. All members other than China backed action against "nonmarket policies and practices" that exacerbate global imbalances, as countries express concern over excess production and exports from China.

The U.S. holds the G20 presidency, but Treasury Secretary Scott Bessent skipped the Bangkok meeting as the November midterm election approaches. Bank of Japan Gov. Kazuo Ueda also attended the meeting.

Markets are paying more attention to Washington's messages to Japan, with Bessent and U.S. President Donald Trump commenting on the undervalued yen. Bessent has repeatedly urged Japan to shift away from reflationary policies, and asked the BOJ to make appropriate monetary decisions to stay ahead of the inflation curve. At the end of July, the U.S. and Japan jointly intervened to prop up the yen.

Japanese authorities are also working to reassure markets, with Prime Minister Sanae Takaichi recently rejecting the reflationary label, saying the economy does not need such policies now that the country is no longer dealing with deflation.

Katayama also told Nikkei in an interview earlier this month that the government is united in its view that Japan's reflationary policy has ended.