Kazuo Ueda, the government's nominee to become the next Bank of Japan governor, will speak at a confirmation hearing at the Lower House of parliament on Feb. 24, a ruling party official said Thursday.

The hearing will be closely watched by markets for clues on how the 71-year-old academic could steer the central bank out of its prolonged ultraloose monetary policy.

The Lower House will conduct the hearing on Ueda's nomination in the morning, Shunichi Yamaguchi, head of the Lower House steering committee, told reporters on Thursday.