Opinion
Corporate Japan is bracing itself for change at the BoJ
The surprise selection of Kazuo Ueda to become the next governor of the Bank of Japan will break with decades of tradition and put an academic on that prickly throne for the first time in the postwar period.
Despite his longstanding prominence, combing through Ueda’s previous comments for hints of what his appointment might mean for the cost of money is heavy going.
Everyone is ravenous for guidance on what might happen should long-term interest rates creep higher — none more so than corporate Japan, which must not only confront the possibility of BoJ policy normalisation for the first time in nearly a quarter century (and several generations of senior management), but also recognise that normal was never all that normal. So how big might the coming readjustment storm be.
Continue reading at the Financial Times.