The Bank of Japan’s top economist, Koji Nakamura, was named new executive director overseeing monetary policy and financial markets on Tuesday, the central bank said in a statement.
Nakamura succeeds Takeshi Kato, whose four-year term as one of the BOJ’s six executive directors expired on Monday.
Aside from a one-year stint heading the BOJ’s monetary affairs department, Nakamura’s career at the central bank has largely focused on analysing Japan’s economy. He has headed BOJ’s research and statistics department from May last year.
© Reuters. FILE PHOTO: A Japanese flag flutters atop the Bank of Japan building in Tokyo, Japan, September 21, 2016. REUTERS/Toru Hanai/File Photo
He has also served key posts at the BOJ’s international department, and holds an M.A. and MBA from Boston University.
The appointment of Nakamura comes as the BOJ embarks on a steady interest rate-hike cycle under Governor Kazuo Ueda, after having exited a decade-long stimulus programme last year.