Ueda to become new Bank of Japan governor in April

Japan's Upper House has approved the appointment of economist Ueda Kazuo as the new governor of the Bank of Japan.

Ueda, a former BOJ policy board member, is now set to assume the post on April 9. He will be the first post-war central bank governor to come from academia.

A majority of the lawmakers in the chamber voted for him on Friday. Ueda was supported by members of the governing Liberal Democratic Party and its junior coalition partner, Komeito. He was also endorsed by members of the major opposition Constitutional Democratic Party and other parties.

Lawmakers in the Lower House gave the economist their endorsement on Thursday.

The upper chamber also approved the government's two nominees to be the BOJ's deputy governors by a majority vote.

The two are Himino Ryozo, a former chief of the Financial Services Agency, and current BOJ Executive Director Uchida Shinichi.

They will take office on March 20.

The governor and deputy governors all serve five-year terms.

Source: https://www3.nhk.or.jp/nhkworld/en/news/20230310_17/