Ueda starts first top office transition in decade

TOKYO: Kazuo Ueda has taken over the reins at the Bank of Japan (BoJ), replacing Haruhiko Kuroda, whose aggressive easing efforts made the central bank capable of jolting global financial markets with just a small tweak to its policy.

Ueda began his five-year term on Sunday, inheriting a monetary stimulus programme from Kuroda after US$11.7 trillion (RM52 trillion) was spent in pursuit of the central bank’s stable 2% inflation target.