Kishida Hopes New BOJ Chief Will Craft Appropriate Money Policy

Japanese Prime Minister Fumio Kishida has expressed hope that academic Kazuo Ueda, his nominee for the next Bank of Japan (BOJ) governor, will guide monetary policy appropriately in coordination with the government, Kyodo News reported.

Photo Insert: Kishida stressed that he also chose Ueda in the belief that the next governor should have strong communication skills and be able to closely coordinate with other major central bank governors.

Kishida said he wants the BOJ to continue to "consider economic, price and financial conditions" while working together with the government under Ueda, 71.

The prime minister called Ueda, a former BOJ board member, the "most appropriate" choice for governor, describing him as an "internationally renowned economist" who has "deep knowledge of the field of finance in terms of theory and practice."

He stressed that he also chose Ueda in the belief that the next governor should have strong communication skills and be able to closely coordinate with other major central bank governors.

The remarks are the premier's first since Ueda was presented to parliament for approval on Tuesday, along with two deputy governor nominees, Ryozo Himino, 62, a former commissioner of the Financial Services Agency, and Shinichi Uchida, 60, an executive director at the central bank

"When I considered (BOJ chief candidates), I had in mind a person who would work to realize economic growth accompanied by wage growth and achieve the price stability target sustainably and stably and paid due attention to the impact (the choice) would have on financial markets," Kishida added, Mainichi Shimbun also reported.

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