Ueda becomes 1st BOJ governor from academia in postwar Japan

Academic Kazuo Ueda began his five-year term as governor of the Bank of Japan on Sunday, the start of his tenure coming at a critical time for the bank as protracted monetary easing under his predecessor to ensure both wage growth and stable inflation has exposed its negative side.

Ueda, the first governor hailing from academia in postwar Japan, will be tasked with maintaining the momentum toward achieving its 2 percent inflation target through monetary policy, and charting a path toward an eventual exit. Japan’s inflation has topped the targeted level but the BOJ regards it as a temporal move...