In the last policy board meeting under Bank of Japan Gov. Haruhiko Kuroda on Friday, the central bank maintained its ultraloose monetary easing, signaling his firm stance on the policy before he passes the torch to incoming head Kazuo Ueda.
Earlier in the day, parliament also approved the nomination of Ueda as new BOJ governor along with his deputies Shinichi Uchida, one of the central bank’s current executive directors, and Ryozo Himino, former chief of the Financial Services Agency.
Ueda, who will start his term on April 9, faces the challenging task of unwinding the complex monetary policy rolled out over the past decade.