, Columnists
The New BOJ Governor Is ‘Team Transitory.’ Get Used To It
Kazuo Ueda avoided a market surprise. But in most other respects he’s sticking to his predecessor Haruhiko Kuroda’s thinking.
Team Transitory.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Take a bow for the new revolution? Hardly. Japan’s new money man passed his first test, before he even walks in the office. His debut in front of lawmakers had something for everyone. But it may take a crisis to reveal just how much of his predecessor’s easy money he is willing to dismantle.
Anyone looking for insight into how Kazuo Ueda would steer the world’s third-largest economy was bound to be disappointed by the first look at his thinking, as he spoke at length for the first time since emerging as the surprise pick to lead the Bank of Japan.