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Kazuo Ueda
Kazuo Ueda
植田和男
	Kazuo Ueda in 2023
32nd Governor of the Bank of Japan
	Incumbent
	Assumed office ; 9 April 2023
Prime Minister	Fumio Kishida
Preceded by	Haruhiko Kuroda
Personal details
Born	September 20, 1951 (age 73); Makinohara, Japan
Education	University of Tokyo (BS); Massachusetts Institute of Technology (MS, PhD)

Kazuo Ueda (植田和男, Ueda Kazuo, born September 20, 1951) is a Japanese economist who has been serving as the 32nd Governor of the Bank of Japan (BOJ) since April 2023.

He is a professor emeritus at the University of Tokyo (UTokyo) and also worked briefly as a professor at Kyoritsu Women’s University after his retirement from UTokyo in 2017. He was the dean of the Faculty of Economics at UTokyo and president of the Japanese Economic Association.

Biography

Ueda graduated from the University of Tokyo with a Bachelor of Science in Mathematics and then studied at Faculty of Economics under Hirofumi Uzawa, Ryutaro Komiya, and Koichi Hamada.^[1]^[2] In 1980, Ueda received his PhD in economics from the Massachusetts Institute of Technology.^[1] His doctoral advisor was Stanley Fischer.

After working at the University of British Columbia and Osaka University, he returned to his alma mater in 1989, retiring in 2017 to become Professor Emeritus.^[1] From April 2011 to June 2012, Ueda was president of the Japan Economic Association.^[1]

In February 2023, Ueda was nominated by Prime Minister Fumio Kishida to succeed the long-serving Haruhiko Kuroda as Governor of the Bank of Japan. He was an unexpected choice as the position is usually filled by a senior official from the Ministry of Finance or the bank itself. Ueda began his term in April 2023.^[3]^[4] On 19 March 2024, the BoJ under Ueda decided to end the zero-interest-rate policy and the yield curve control.^[5] This was a milestone for the long-stagnant Japanese economy, as the bank rate had not been raised for 17 years due to deflation or very low inflation, which the country finally got out of with the help of the 2021-2023 global inflation surge.^[6]

Other activities

International Monetary Fund (IMF), Ex-Officio Alternate Member of the Board of Governors (since 2022)^[7]

Works in Japanese

Single-authored

国際マクロ経済学と日本経済開放経済体系の理論と実証 (International Macroeconomics and the Japanese Economy: Theory and Evidence of an Open Economic System) 東洋経済新報社, 1983
戦後の経済変動と経常収支 (Postwar Economic Fluctuations and the Current Account, Ministry of Finance, Financial Research Institute) 大蔵省財政金融研究所, 1986
国際収支不均衡下の金融政策 (Monetary Policy under International Balance of Payments Imbalances) 東洋経済新報社, 1992 ISBN 4492651578
ゼロ金利との闘い日銀の金融政策を総括する (Battling Zero Interest Rates: Evaluating the Bank of Japan’s Monetary Policy) 日本経済新聞社, 2005 ISBN 4532351839
大学4年間の金融学が10時間でざっと学べる (Speed Learn University-Level Finance in 10 Hours) 中経出版, 2017