Kishida Wants Next BOJ Chief to Achieve Sustainable Inflation

Tokyo, Feb. 15 (Jiji Press)--Japanese Prime Minister Fumio Kishida said on Wednesday that he nominated economist Kazuo Ueda to become the next governor of the Bank of Japan to achieve sustainable wage growth and 2 pct inflation.

"I nominated a person who I think will work to ensure economic growth accompanied by structural wage increases and achieve a price stability goal in a sustainable manner," Kishida told a meeting of the House of Representatives Budget Committee.

He said he chose the internationally renowned economist, given "the need for close coordination with central bank governors of other major economies and high-level capabilities to communicate with markets."

Kishida submitted the nomination of Ueda to parliament Tuesday.

The prime minister said he expects the BOJ to "continue to steer monetary policy appropriately in close coordination with the government."

[Copyright The Jiji Press, Ltd.]