Japan Biz Leaders Welcome Next BOJ Leadership

Tokyo, March 10 (Jiji Press)--The heads of Japan's three major business groups welcomed Friday's parliamentary confirmation of the next Bank of Japan leadership team under Kazuo Ueda as governor. Economic scholar Ueda, a former member of the BOJ's Policy Board, will take office April 9. BOJ Executive Director Shinichi Uchida and former Financial Services Agency Commissioner Ryozo Himino will become deputy governors March 20. Japan Business Federation (Keidanren) Chairman Masakazu Tokura described the trio as "well-balanced." In a statement, Tokura also expressed hopes that the BOJ will make the best decisions in close collaboration with the government while keeping tabs on economic and price trends. Kengo Sakurada, chairman of the Japan Association of Corporate Executives, or Keizai Doyukai, said in a statement that the new leadership is the "most appropriate formation" for deciding very difficult monetary policies. Sakurada called on the next BOJ leaders to provide companies and the general public with information with high predictability. Japan Chamber of Commerce and Industry Chairman Ken Kobayashi issued a statement urging the next BOJ leaders to make policy decisions that can win trust while considering how to exit the current policy through careful dialogue with the market. END