Ueda would replace current central bank chief Governor Haruhiko Kuroda, who was first appointed in March 2013. His current five-year term will end on April 8.
Bank of America Global Research expects a gradual policy normalization under the central bank's new leadership instead of an abrupt change.
Kazuo Ueda, professor of Graduate School of Economics at The University of Tokyo, speaks during the Institute of International Finance Spring Membership Meeting in Tokyo, Japan, on Tuesday, May 9, 2017.Kazuo Ueda is set to become the next governor of the Bank of Japan, succeeding current central bank chief Governor Haruhiko Kuroda.0.2% Tuesday morning after the announcement of the nomination and last stood at 132.13 against the U.S.
Kishida recently emphasized the need for the next central bank governor to have "global communication skills" and be able to coordinate closely with global peers, ReutersCurrent governor Kuroda was first appointed in March 2013. He has led the central bank's ultra-dovish monetary policy, including maintaining a negative interest rate since 2016 – even as global peers have been hiking to tackle inflation. His current five-year term will end on April 8.
"We continue to think a change in the BoJ's policy framework will be delayed until mid-2024," the economists said, adding that they expect to see "flexibility" in changing the current policy instead.
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