Appointing a woman to the Bank of Japan’s top brass would help with promoting gender diversity across the country, according to Takako Masai, a former member of the central bank board.

As speculation heats up over the new BOJ leadership and the changes that may bring, Masai also said the bank may need to verify the feasibility of policy normalization before it moves in that direction.

Economists increasingly expect a female candidate to be in one of the BOJ’s most senior positions this spring. If a woman is chosen, it will "send a big message” to Japanese companies and organizations to promote gender diversity, Masai said in an interview. "It would be great if the appointment could provide a sort of catalyst,” she said.