An Old Beginning

The Bank of Japan has a new professor

These two weeks are the biggest weeks for the US Markets - we have big tech earnings, the Fed meeting, the GDP release and PCE numbers. And smack dab between the two weeks, we have the Bank of Japan’s first meeting under the new governor - Professor Kazuo Ueda.

The meeting takes place this Friday, April 28, 2023 (late Thursday for the US), and while we don’t expect drastic changes during this meeting, it will be important to hear what the new BOJ governor has to say.

Ueda’s appointment came as a surprise to many as he is the first academic to be nominated for this position. He is also not very “political” and unlike his predecessor he doesn’t have any allegiance to the government.

Being an academic, Ueda is also likely to have a more measured approach to the markets. He has already called for a thorough review of the policies that have been in play under governor Kuroda, and the effectiveness of those policies.