Kazuo Ueda, the nominee to lead the Bank of Japan, is signaling that financial markets should not expect big surprises or magical solutions, as he braces for the monumental challenges facing the central bank.
His carefully worded statements on monetary policy in his recent confirmation hearings in parliament suggest he will prioritize communication with financial markets and make his thinking behind policy decisions clear.
Ueda, 71, has cast himself as a future BOJ policymaker, who would be realistic, flexible, and also creative in guiding policy after a decade of monetary easing under incumbent Haruhiko Kuroda has exposed its side effects.