The Bank of Japan's expected next governor Kazuo Ueda likely won't rush to overhaul ultra-loose policy and will instead let economic data guide the exit timing, said Tetsuya Inoue, who was Ueda's staff secretary when he was a central bank board member.
"His style is to discuss monetary policy based on facts and evidence," Inoue told Reuters in an interview on Monday.
In contrast to Kuroda, who deployed massive stimulus shortly after becoming governor in 2013, Ueda likely won't rush into overhauling policy as he will have time to gauge whether inflation and wages will keep rising, Inoue said. In a book published in 2005 reflecting on the BOJ's battle with deflation, Ueda said Japan's then crippled banking system had hampered the stimulus effects of ultra-low interest rates.
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