New (nominee to) Bank of Japan board Junko Koeda approved by Japan’s lower house

Junko Koeda has been nominated to join the monetary policy board of the Bank of Japan.

She must receive consent from both houses of the National Diet, Japan’s parliament—the House of Representatives and the House of Councillors.

Koeda is a professor at Waseda University. She is perceived as a less dovish candidate.

The Bank of Japan Act specifies that appointments to the Policy Board require the consent of both the House of Representatives and the House of Councillors. However, the Act does not mandate a specific sequence for obtaining this consent. In practice, the order may vary based on parliamentary scheduling and procedures.

The upper house will vote on her appointment on Wednesday next week. Given the government majority it’s a done deal.

This article was written by Eamonn Sheridan at www.forexlive.com.