ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
BOJ confirmation hearings

Kazuo Ueda seeks to steer BOJ toward more flexible path

A decade after Kuroda's 'bazooka,' nominee puts pragmatism over ideology

Kazuo Ueda, nominee for Bank of Japan governor, attends a hearing at the lower house of the Diet in Tokyo on Feb. 24. (Photo by Uichiro Kasai)

TOKYO -- A decade ago, Bank of Japan Gov. Haruhiko Kuroda fired a "bazooka" in an ideological bid to reflate the country's moribund economy by boosting the supply of easy money. On Friday, his expected successor sought to bring pragmatism back to the central bank.

At his confirmation hearing, nominee Kazuo Ueda told parliament that a decade of ultra-easy monetary policy under Kuroda has had side effects and that inflation is hurting people's livelihoods -- at one point pointing to the rising cost of a convenience store lunch box.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more