Kazuo Ueda, the candidate for leadership of the Bank of Japan, is signaling that financial markets should not expect any big surprises or magic fixes as he braces himself for the monumental challenges facing the central bank.
His carefully crafted statements on monetary policy in his recent confirmation hearings in Parliament suggest he will prioritize communicating with financial markets and make clear his thoughts behind policy decisions.
Ueda, 71, has presented himself as a future BOJ politician who would be realistic, flexible and also creative in directing policy after a decade of monetary easing under incumbent Haruhiko Kuroda has revealed its side effects.
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