TOKYO : Economists polled by Reuters unanimously support the nomination of academic Kazuo Ueda as next Bank of Japan governor, citing his track record as a monetary policy theorist, central bank board member and a good communicator, a survey showed on Friday.Prime Minister Fumio Kishida's government prese
TOKYO : Economists polled by Reuters unanimously support the nomination of academic Kazuo Ueda as next Bank of Japan governor, citing his track record as a monetary policy theorist, central bank board member and a good communicator, a survey showed on Friday.
In the Feb. 14-21 monthly Reuters poll, all 26 respondents said Ueda, the former University of Tokyo economics dean, was a good choice for the top job at the BOJ. Analysts said Ueda would be more flexible in conducting policy than those directly involved in the BOJ's recent dovish measures, such as deputy governor Masayoshi Amamiya, who had been seen as the top contender to succeed Kuroda.
Two-thirds of economists expect the BOJ to start unwinding its ultra-easy policy within the next four months. Of 27 respondents, seven said that would happen at the April rate-review, Ueda's first. Another 11 said June. Three projected for July, two for October, three for first half of 2024 and the remaining one for"second half of 2024 or later".
Only five of 27 respondents said the BOJ would end negative its interest rate policy by the end of this year. Another five expected it to happen in first half of 2024. Seven said the latter half of 2024 and 10 opted for 2025 or later.Economists were divided on whether the 2013"joint statement" between the government and BOJ should be revised in the post-Kuroda era, with 13 of 25 respondents saying changes were needed.
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