The government said Tuesday it will appoint Hajime Takata, an economist who has warned of the side effects of bold monetary easing, and Naoki Tamura, a veteran banker, as board members at the Bank of Japan.

Some market participants see the choice of Takata as foreshadowing a potential shift from its pursuit of powerful monetary easing that has continued in recent years before Prime Minister Fumio Kishida chooses a successor to BOJ Gov. Haruhiko Kuroda, whose term ends next April. Takata and Tamura will serve five-year terms starting Sunday.

Takata, 63, will replace Goshi Kataoka, an economist known as a reflationist who has pushed for more monetary easing to spur economic growth.