Japan's Prime Minister to Nominate New Central Bank Policy Committee Members

Japan's Prime Minister Sanae Takaichi is set to nominate two new members to the Bank of Japan's policy committee, marking her first appointments to the committee. According to Jin10, this move will indicate her preferences regarding the direction of Japan's interest rates. Reports suggest that the Takaichi administration may submit the list of candidates to replace outgoing Bank of Japan board members Asahi Noguchi and Junko Nakagawa to the National Diet by Wednesday noon. Noguchi's five-year term will conclude at the end of March, while Nakagawa's term will end in June. The nominees require approval from both houses of the Diet. This is Takaichi's first opportunity to directly influence the operations of the nine-member committee, and traders will closely watch whether the nominations suggest the Prime Minister intends to delay interest rate hikes. Previously, Japanese media reported that Takaichi expressed concerns about further rate increases during a meeting with the Bank of Japan Governor last week.