Kazuo Ueda, the Governor of the Bank of Japan (BOJ), has been hospitalized for treatment of an infected liver cyst and will miss the crucial policy meeting scheduled for June 15-16. In his absence, Deputy Governor Ryozo Himino will lead the rate review, while Shinichi Uchida, the other deputy governor, will conduct the post-meeting press conference.
Ueda, who is 74 years old, is anticipated to remain in the hospital for about two weeks but plans to work remotely and attend the next policy meeting on July 30-31. The BOJ is expected to raise its short-term policy rate to 1% from the current 0.75%, marking the first increase in borrowing costs to levels not seen in three decades.
This decision comes shortly after the BOJ announced that Deputy Governor Uchida had been discharged from the hospital following treatment for leukemia, highlighting ongoing health issues within the bank's leadership at a critical time for monetary policy