TOKYO (Reuters) – Japan’s lower house of parliament on Friday approved the government nominee for the central bank’s policy board, Junko Koeda, an academic known as a fiscal and monetary hawk, paving the way for full endorsement in the legislature.
Koeda, a professor specialising in macroeconomics and finance at Japan’s Waseda University, would replace former economist Seiji Adachi, who had a reputation for preferring a more dovish monetary policy.
Koeda’s appointment is expected to be approved by the upper chamber on Wednesday given the ruling bloc’s solid majority in the house. Her five-year term would start on March 26.
Prime Minister Shigeru Ishiba’s first pick of a new BOJ board member has been closely watched by markets for clues on the administration’s stance on monetary policy.
Koeda, who has frequently participated in BOJ-hosted panels to offer insights on the effects of monetary policy, is likely to reinforce the shift towards higher interest rates and bring fresh thinking into a central bank long focused on reflating growth via huge stimulus, analysts say.
It will be the first time two women will take seats at the male-dominated, nine-member board. There has been only one woman on the board up until now – a current member, Junko Nakagawa, who joined in 2021.
(Reporting by Makiko Yamazaki; Editing by Jamie Freed)
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