New Bank of Japan Governor Ueda approved by Lower House

Japan's Lower House has endorsed the appointment of economist Ueda Kazuo as the new governor of the Bank of Japan.

Ueda, a former BOJ policy board member, is to replace Kuroda Haruhiko, whose term ends on April 8.

The lower chamber also approved the government's two nominees for the central bank's deputy governors.
They are Himino Ryozo, a former chief of the Financial Services Agency, and current BOJ Executive Director Uchida Shinichi.

The three nominees were approved by a majority vote with support from the governing Liberal Democratic Party and its junior coalition partner, Komeito.

The Japanese Communist Party voted against the appointments of Ueda and Himino.

The major opposition Constitutional Democratic Party and the Japanese Communist Party voted against the appointment of Uchida.

The Upper House is expected to approve the three nominees on Friday.