2 Reflationists Tapped as BOJ Policy Board Members

Tokyo, Feb. 25 (Jiji Press)--The Japanese government on Wednesday nominated two academics considered to be reflationists as members of the Bank of Japan's Policy Board.

The move is seen as a warning against the central bank's gradual interest rate hikes, as Prime Minister Sanae Takaichi favors fiscal expansion and monetary easing.

The two nominees are Toichiro Asada, professor emeritus at Chuo University, and Ayano Sato, professor at Aoyama Gakuin University.

They are among the 22 people nominated to posts at 11 institutions in a proposal the government presented to the steering committees of both chambers of the Diet, the country's parliament. The nominees require Diet approval to be appointed.

Asada, who specializes in theoretical economics, explained the importance of proactive fiscal policy at a meeting of the ruling Liberal Democratic Party in the past.

[Copyright The Jiji Press, Ltd.]