Choice for Seeking Exit
The main reason must be a frustration with Abenomics. As some reports indicated, Prime Minister Fumio Kishida was thinking that Japan’s monetary easing policy should be corrected. Kishida Cabinet last week submitted to the Diet a proposal of the nomination of Kazuo Ueda, Professor of Kyoritsu Women's University, for the successor of the Governor of Bank of Japan, Haruhiko Kuroda, whose term would end in early April. Ueda's mission is more than obvious: How to get rid of the rigid large-scale monetary easing policy of the bank. The pick of Ueda was reportedly an original idea of Kishida. In the discussion of the Diet, Kishida suggested that the next governor should be someone who had connections with the central bank leaders in the world and capabilities of sending and receiving messages with the market. In the Massachusetts Institute of Technology, Ueda's mentor in economics was Stanley Fischer, and Ben Bernanke, Janet Yellen, or Mario Draghi was Ueda's peers then. Kish...