Abenomics Flag Waver Says Ueda May End YCC, Keep BOJ Easing
- Koichi Hamada sees Ueda with a blank piece of paper on policy
- Expects Ueda to continue with some form of monetary easing
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Bank of Japan Governor nominee Kazuo Ueda has more scope to end the central bank’s control of yields because he isn’t tied to a specific agenda unlike outgoing chief Haruhiko Kuroda, according to Koichi Hamada, a close adviser to former Prime Minister Shinzo Abe.
“He has a blank paper in front of him and he can draw whatever he wants,” Hamada said in an interview with Bloomberg. “It won’t be easy to succeed Kuroda’s extraordinary easing of 10 years, but at least Ueda’s hands aren’t tied to anything.”