Japan's government named academic Kazuo Ueda as its pick to become next central bank governor, a surprise choice that could heighten the chance of an end to its unpopular yield control policy
Analysts expect Ueda, who had warned of the dangers of premature interest rate hikes in the past, to hold off on tightening monetary policy.
"I don't think he will idly continue a policy that didn't work and showing increasing side-effects," she said.newspaper and confirmed by Reuters on Friday, came as a surprise to many investors who expected the job to go to a career central banker like deputy governor Masayoshi Amamiya. "Once it removes the 10-year yield target, the BOJ could wait to see how inflation and overseas economies develop in deciding when to exit negative rates," he said.
Speaking to reporters near his residence in Tokyo, Ueda said he will "do his best" if the appointment is approved by Diet.is seen as a pragmatist who can adjust his views on monetary policy flexibly.
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