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Ueda nominated for central bank head as a BOJ-favoured 'outsider'

Bloomberg
Bloomberg • 6 min read
Ueda nominated for central bank head as a BOJ-favoured 'outsider'
Dubbed “Japan’s Ben Bernanke” by former Treasury Secretary Larry Summers, Ueda hasn’t had a say in BOJ policymaking since 2005. Photo: Bloomberg
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Japanese Prime Minister Fumio Kishida’s government nominated Kazuo Ueda to helm the Bank of Japan on Tuesday in a move likely to pave the way for a gradual paring back of the central bank’s full-bore stimulus.

Ueda, a university professor and former BOJ board member with a doctorate from Massachusetts Institute of Technology, is Kishida’s surprise choice to replace current Governor Haruhiko Kuroda.

“I’ll do my sincere best if parliament approves me” as BOJ governor, Ueda told reporters in Tokyo.

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