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Govt nominates academic Ueda as new BOJ chief
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BOJ nominees need parliament approval to take effect
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Suzuki expects BOJ nominees to work as "one team"
(Adds detail, context)
By Tetsushi Kajimoto
TOKYO, Feb 17 (Reuters) - Japan's government picked
academic Kazuo Ueda as new central bank governor on expectations
he can help keep inflation on target and sustain economic and
wage growth, finance minister Shunichi Suzuki said on Friday.
"We fully paid attention to the potential impact on
financial market in proceeding with this consideration," Suzuki
told reporters.
"We also took into account the importance of keeping close
coordination with top officials of major central banks as well
as the ability to send and receives high-quality messages to
market players within and outside Japan," Suzuki said.
The cabinet judged that Ueda, who is a well-known economics
academic, was the most appropriate candidate to take over
incumbent Haruhiko Kuroda, due to his deep insight on monetary
affairs in terms of both theory and practice, he added.
The government picked BOJ executive Shinichi Uchida and
former banking watchdog Ryozo Himino as the two deputy governors
for their rich experience and knowledge of monetary policy and
financial affairs.
The government on Tuesday formally presented the three
nominees for the Bank of Japan (BOJ) posts for parliamentary
approval, which is effectively a done deal, given the ruling
coalition's solid majority in both legislative houses.
The parliament holds confirmation hearings on the nominees
on Feb. 24 at the lower house, followed by the upper chamber at
a later date.
"I believe the nominations were made to demonstrate their
comprehensive ability as one team," Suzuki said.
He declined to comment when asked about whether the
government and BOJ needed to review their joint statement issued
in 2013, which includes a pledge to meet the bank's 2% price
goal quickly.
He added that should be judged when the new governor assumes
the job.
Suzuki also said Japan is coordinating with other countries
on the agenda for when the Group of Seven (G7) financial
leaders' meeting takes place on the sidelines of the broader G20
gathering later this month.
"We are now at the final stage on coordination with other
countries, hoping that we make decision (on the agenda.)"
(Reporting by Tetsushi Kajimoto; Editing by Jacqueline Wong and
Sam Holmes)
