New Bank of Japan Governor Kazuo Ueda said he will stick for the time being to the ultra-loose monetary policy pushed by his predecessor over the past decade.
Lawmakers reacted in bafflement when the news spread like wildfire on Feb. 10 through political and financial circles that economist Kazuo Ueda would be named the next Bank of Japan governor.
Prime Minister Fumio Kishida and Bank of Japan Governor Haruhiko Kuroda agree on the need for wage increases to match a recent surge in consumer prices but seem to be at odds in other economic policy areas.