Japan names academic Ueda as next central bank governor

TOKYO, Feb 14 (Reuters) - 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.

Ueda, a 71-year-old former Bank of Japan (BOJ) policy board member, will succeed incumbent Haruhiko Kuroda, whose second, five-year term ends on April 8, according to documents presented to parliament on Tuesday.

The leadership transition marks a historical end to Kuroda's decade-long monetary experiment that sought to shock the public out of a deflationary mindset, and could eventually align Japan with other major economies toward higher interest rates.

With inflation exceeding the BOJ's 2% target, Ueda faces the delicate task of normalising its prolonged ultra-easy policy that has drawn increasing public criticism for distorting market function and crushing bank margins. ...continue reading

Feb 14 (ANNnewsCH) - 政府が新たな日銀総裁の候補者として提示した経済学者で元日銀審議委員の植田和男氏が決意を述べました。  ...continue reading