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New monetary policy crew means BOJ will stay the course

Monetary affairs team will likely take time in deciding on policy shift

Though Japan's central bank has shuffled a core monetary policy team, it rarely changes course soon after such changes.

TOKYO -- The Bank of Japan is reshuffling its key monetary policy team, changes that are likely to delay an exit from its large-scale easing program as new members exercise caution in altering the course.

On Monday, Akio Okuno, currently head of market operations in the financial markets department, will take over as policy planning head in the monetary affairs department. Just this past March, Takeshi Kato was named director-general of monetary affairs. Both share a wealth of experience in that department's duties and are versed in the theory and practice of monetary policy.

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