TOKYO (Reuters) – Japan’s government is likely to submit a nominee on Jan. 28 to fill a seat on the central bank’s board that opens up in March, three government and ruling party sources told Reuters.
The nominee, who would need to be approved by both houses of parliament, would replace economist-turned Bank of Japan board member Seiji Adachi, whose five-year term ends on March 25.
Adachi is considered as neutral on monetary policy. BOJ’s nine-member board is mostly split between those who favour raising interest rates steadily and others who are cautious about phasing out the bank’s massive stimulus too soon.
(Reporting by Yoshifumi Takemoto; Writing by Leika Kihara; Editing by Tom Hogue)
