Former Olympics Minister Shunichi Suzuki on Monday became the first new finance minister in nearly nine years, replacing Taro Aso as the ruling party reboots its Cabinet in the run-up to a general election.
The 68-year-old Suzuki was appointed to the job after helping to install the country’s new prime minister, Fumio Kishida, who took the job earlier Monday. The son of a former prime minister, Suzuki belongs to a political faction headed by Aso and is also the out-going finance chief’s brother-in-law.
Because of those ties, Suzuki is viewed as a steward of the status quo, much like his boss, Kishida. He’s seen keeping the fiscal policies of recent years and continuing to support the Bank of Japan’s bond-buying and ultralow interest-rates, although there is speculation he might be susceptible to pressure to spend more.