Japan’s lower house of parliament, on Friday, approved the government’s nominee for the Central Bank’s policy board. The government of Japan backed Junko Koeda for being the latest member of the policy board of BOJ. Koeda is an academic known popularly as a fiscal and monetary hawk.
Koeda is a professor currently working at Waseda University in Japan, with a specialisation in macroeconomics and finance. She will replace the former economist Seiji Adachi, who had a reputation for preferring more dovish or pacifist monetary policies. Koeda’s appointment will be made official on Wednesday once she gets approved by the upper chamber of the parliament, considering the fact that the ruling bloc has a significant majority in the chamber.
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Prime Minister Shigeru Ishiba’s move and the very first pick to the latest board member of the BOJ has been closely watched by markets and economic experts to get a clue about the possible economic policies the government might bring in the future.
This decision also breaks a lot of stereotypes as this is the first time ever that two women will be a part of a historically male-dominated board where seven members out of nine are male. Currently, only one female member, Junko Nakagawa, joined the board in 2021. Now, with the appointment of Koeda, Japan is ready to break the paradigm.
