New chief comes from the same Stanley Fischer school of economics that produced central bankers Ben Bernanke and Mario Draghi
Kazuo Ueda took over the reins at the Bank of Japan, replacing Haruhiko Kuroda, whose decade-long aggressive easing efforts made the central bank capable of jolting global financial markets with just a small tweak to its policy.
Ueda began his five-year term on Sunday, inheriting a monetary stimulus programme from Kuroda after $11.7-trillion was spent in the pursuit of the central bank’s stable 2% inflation target. Now BOJ watchers largely see Ueda as tasked with achieving a soft landing for the huge programme rather than expanding it further, as signs of its side effects pile up. ..
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