Incoming Bank of Japan (BOJ) Governor Kazuo Ueda will speak in parliament on Friday, offering markets a first glimpse of how the new-look central bank could steer an exit from ultra-low interest rates.
During his stint as BOJ board member from 1998 to 2005, Ueda played a key role in the bank's introduction of forward guidance to enhance the effect of its zero-interest rate policy.
Upon approval by parliament, he will succeed incumbent Haruhiko Kuroda, whose second, five-year term ends on April 8. The nominations need the approval of both chambers of the Diet, which are effectively a done deal as the ruling coalition holds solid majorities in both.
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