Scholar nominated to follow Kuroda as Bank of Japan chief

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Kazuo Ueda, an economist and former member of the Bank of Japan’s policy board, has been nominated to be the next central bank governor. The government handed that nomination to parliament on Tuesday. It comes as the world’s third largest economy grapples with inflation and other fiscal challenges. Japan’s economy returned to growth in the last quarter, but the 0.6% annual pace of expansion was less robust than expected. The current BOJ governor, Haruhiko Kuroda, is stepping down April 8 after serving two five-year terms at a time when vanquishing deflation was the biggest priority. Ueda’s appointment must be approved by both houses of Parliament.