Asia Politics

Japanese Prime Minister Fumio Kishida says Kazuo Ueda is the best fit to lead Bank of Japan

Prime Minister Fumio Kishida speaks during a press conference at the prime minister's office on July 14, 2022 in Tokyo.
Zhang Xiaoyu | Pool | Getty Images

Japanese prime minister Fumio Kishida said on Wednesday Bank of Japan (BOJ) governor nominee Kazuo Ueda is the best fit to lead the central bank as he is a well known economist globally and has high expertise in financial field.

The appointment of Ueda was made after taking the market impact as well economic and wage growth and price stability targets into consideration, Kishida told a parliamentary committee, adding that internal and external communication skills were also a factor in the decision.

"We expect the BOJ to continue to conduct appropriate monetary policy operations in coordination with the government, taking into account economic, price and financial conditions," Kishida said.

The government named academic Ueda as its pick to become next central bank governor Tuesday.