Two Vocal Dissenters Leave BOJ Board (News)
Tokyo, July 23 (Jiji Press)—Two Bank of Japan Policy Board members who were vocal in their opposition to the BOJ's current monetary policy left office Sunday as they reached the end of their five-year terms.
The departure of the two, Kiuchi Takahide and Satō Takehiro, who were brokerage house economists before joining the BOJ, raises concerns about a loss of diversity in opinions among the central bank's policymakers.
Without the dissenters, the executive team led by Governor Kuroda Haruhiko is expected to have a bigger influence in monetary policy discussions.
Critics say the lack of diversity may lead the board to care less about negative side effects of the current monetary policy measures that both Kiuchi and Satō warned about in past Policy Board meetings.
The pair voted against many additional monetary policy measures taken since Kuroda became governor in 2013, including expansion of asset purchases by the BOJ as well as the introduction of negative interest rates and a 10-year Japanese government bond yield target.[Copyright The Jiji Press, Ltd.]