The Japanese government plans to appoint Kazuo Ueda, an economist and former member of the Bank of Japan (BOJ) Policy Board, as the central bank’s next governor after Haruhiko Kuroda’s resignation, local media reported on Friday.
For new deputy governors, former Financial Services Agency chief Ryozo Himino and BOJ Executive Director Shinichi Uchida are being eyed, reported Japanese newspaper Nikkei, citing sources familiar with the matter.
Kuroda’s term ends on April 8. BOJ governors are appointed to five-year terms and require the approval of both houses of parliament, reports Xinhua.

On Tuesday, the government will present the nominees to parliament, said the media.

For a possible successor to Kuroda, the government had initially approached Masayoshi Amamiya, the current BOJ deputy governor, but received a declination.

Analysts here believed that the next BOJ president is expected to work on his mission to lead the normalization of Japan’s monetary policy while avoiding shocks to the economy and financial markets.

Ueda, now 71, is regarded as a leading researcher of monetary policy in Japan, and one of those who are familiar with the long-term easing policy, according to local reports.