Ueda Kazuo to head Bank of Japan in new 5-year term

In Japan, the parliament has approved the appointment of Ueda Kazuo as the new governor of the Central Bank (BoJ). The two-term term of current BOJ Governor Kuroda Haruhiko in Japan, which will last a total of 10 years, ends at the beginning of April. The parliament has approved the appointment of Ueda Kazuo, nominated by the government of Prime Minister Kishida Fumio, as the "new BOJ Governor." Thus, the Japanese government will be able to officially appoint Ueda to his new position. The national press notes that Ueda's academic qualifications are drawing attention. State television NHK announced that Ueda will be the first BOJ Governor to be appointed from the academic world to this position in the post-war period. According to his resume, Ueda worked as an academic at the University of Tokyo and Kyoritsu Women's University. Ueda, 71, a former member of the BOJ Policy Board and known as an academic, will serve for 5 years starting in April 2023. The new governor will be assisted by former Financial Services Agency Governor Himino Ryozo and current BOJ Executive Director Uchida Shinichi. Ueda will hold his first policy committee meeting at the end of April, where he will announce quarterly growth and price stability forecasts for fiscal 2025.