Japan Lower House Confirms Ueda as Next BOJ Governor

Politics Economy

Tokyo, March 9 (Jiji Press)--Japan's House of Representatives on Thursday confirmed economist Kazuo Ueda as the next governor of the Bank of Japan.

The lower chamber of parliament approved the nomination of Ueda, a 71-year-old former member of the central bank's policy board, with a majority vote with support mainly from the ruling coalition.

The Lower House also confirmed BOJ Executive Director Shinichi Uchida, 60, and former Financial Services Agency Commissioner Ryozo Himino, 62, as the next BOJ deputy governors.

The House of Councillors, the upper chamber, will likely approve the nominations of Ueda, Uchida and Himino on Friday.

Once confirmed by both parliamentary chambers, Ueda will take the helm of the BOJ on April 9 for a five-year term to replace Haruhiko Kuroda. Uchida and Himino will become BOJ deputy governors for a five-year term on March 20.

[Copyright The Jiji Press, Ltd.]

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