Economist Ueda to Be Named Next BOJ Governor

Tokyo, Feb. 10 (Jiji Press)--Japanese Prime Minister Fumio Kishida has decided to appoint Kazuo Ueda, an economist and former Bank of Japan Policy Board member, as the next governor of the central bank, it was learned Friday.

Ueda, 71, will succeed Haruhiko Kuroda, 78, who has led the BOJ's massive easing policy since taking office 10 years ago. The current governor's term is set to end on April 8.

Ueda would be the first BOJ chief hailing from academia in Japan's postwar history. The expert on monetary policy and macroeconomic theory is seen tackling the crucial task of normalizing monetary policy.

Former Financial Services Agency Commissioner Ryozo Himino, 62, and BOJ Executive Director Shinichi Uchida, 60, will be named BOJ deputy governors, informed sources said. The term of the two incumbent deputy governors--Masayoshi Amamiya and Masazumi Wakatabe--is scheduled to expire March 19.

"We're working to submit (nominations for the BOJ posts) to the Diet (Japan's parliament) on Tuesday," Kishida told reporters.

[Copyright The Jiji Press, Ltd.]