Central Banks
Kishida to Pick Ueda for BOJ in Shock as Amamiya Turns Job Down
- Yen strengthens, then pares gains as investors weigh up Ueda
- Choice comes amid speculation of shift from Kuroda stimulus
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Japanese Prime Minister Fumio Kishida will nominate Kazuo Ueda, a professor and former Bank of Japan board member, to take the helm of the central bank from April, according to people familiar with the matter, in a shock move that sparked sharp moves in the yen.
The decision blindsided investors who had expected long-time front-runner and Deputy Governor Masayoshi Amamiya to succeed Haruhiko Kuroda. Amamiya refused to take the post, the Nikkei newspaper reported.