By Tetsushi Kajimoto
TOKYO (Reuters) -Japan’s government picked academic Kazuo Ueda as new central bank chief on expectations he can help keep inflation on target and sustain economic growth and wage hikes, finance minister Shunichi Suzuki said on Friday.
“We fully paid attention to the potential impact on financial market in proceeding with consideration,” Suzuki told reporters.
“We also took into account the importance of keeping close coordination with top officials of major central banks as well as the ability to send and receives high-quality messages to market players within and outside Japan,” Suzuki said.
The cabinet judged that Ueda, who is a well-known economics academic, was the most appropriate candidate to take over incumbent Haruhiko Kuroda, due to his deep insight on monetary affairs in terms of both theory and practice, he added.
The government picked BOJ executive Shinichi Uchida and former banking watchdog Ryozo Himino as the two deputy governors for their rich experience and knowledge of monetary policy and financial affairs.
“I believe the nominations were made to demonstrate their comprehensive ability as one team,” Suzuki said.
Suzuki also told reporters after a cabinet meeting Japan is coordinating with other countries on the agenda for when the Group of Seven financial leaders’ meeting takes place later this month.
(Reporting by Tetsushi Kajimoto; Editing by Jacqueline Wong and Sam Holmes)
