Japan set to pick academic Ueda as next Bank of Japan chief -sources

TOKYO, Feb 11 (Reuters) - Japan's government is likely to appoint academic Kazuo Ueda as the next Bank of Japan governor, two government officials told Reuters, a surprise choice that could see the country finally align with other major economies in raising interest rates.

Ueda, a former BOJ policy board member and an academic at Kyoritsu Women's University, is considered an expert on monetary policy but had not even been seen as a dark horse candidate for the top job.

He played a key role in battling the initial phase of Japan's deflation with the introduction of huge amounts of asset purchases and forward guidance for financial markets.

The yen and bond yields initially rose on the news, which fuelled bets the 71-year-old could end super-low interest rates sooner than if top contender and dovish BOJ Deputy Governor Masayoshi Amamiya had got the job.

The Japanese currency trimmed gains after Ueda, in comments streamed online by Nippon TV, said it was appropriate for the BOJ to maintain its current ultra-easy policy. He said nothing had been decided about his nomination. ...continue reading

Business Page: 1 | 2 | 3 | 4 | 5 | 6 | 7