Bank of Japan's Next Governor Named as 'Ueda Kazuo'

Haruhiko Kuroda, Governor of the Bank of Japan (BOJ). [Image source=Yonhap News]

[Asia Economy Reporter Donghyun Choi] The Japanese government has appointed Kazuo Ueda, an economist and former BOJ Policy Board member, as the new Governor of the Bank of Japan (BOJ).

According to the Nihon Keizai Shimbun and Kyodo News on the 10th, the Japanese government plans to submit the personnel proposal to the National Diet on the 14th to appoint Kazuo Ueda, former BOJ Policy Board member, as the successor to current BOJ Governor Haruhiko Kuroda. Haruhiko Kuroda's term as BOJ Governor expires on April 8.

Former Policy Board member Ueda graduated from the University of Tokyo and earned a Ph.D. from the Massachusetts Institute of Technology (MIT). He is a financial policy expert who taught students as a professor in the Faculty of Economics at his alma mater, the University of Tokyo, and served as a BOJ Policy Board member from 1998 to 2005.

The BOJ Governor's term is five years, and the Prime Minister appoints the Governor after obtaining consent from both the House of Representatives and the House of Councillors.

The Japanese government plans to appoint former Financial Services Agency Commissioner Ryozo Himino and BOJ Director Shinichi Uchida as BOJ Deputy Governors, whose terms end on March 19.

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