Hirohide Yamaguchi, former vice-governor of the Bank of Japan, is emerging as a strong contender to be the next governor of the Bank of Japan.

The picture shows Hirohide Yamaguchi speaking at a press conference when he served as the vice president of the Bank of Japan in 2010.

(Bloomberg)

[Financial Channel/Comprehensive Report] Hirohide Yamaguchi, the former vice governor of the Bank of Japan, is becoming a strong contender for the next governor of the Bank of Japan.

Hirohide Yamaguchi has repeatedly criticized the current Bank of Japan Governor Haruhiko Kuroda's stimulus plan in the past. The report also pointed out that this also shows that Japanese Prime Minister Fumio Kishida is gradually departing from the reflation policy of "Abenomics".

According to Japan's "Sankei Shimbun", Haruhiko Kuroda's term of office will end in April 2023. The outside world originally thought that compared with current vice president Masayoshi Amamiya and former vice president Hiroshi Nakaso, Hirohide Yamaguchi is unlikely to be the next president.

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Masaka Amamiya and Hiroshi Nakaso both served under Haruhiko Kuroda and have long been considered Kuroda's successors.

However, reports suggest that the possibility of Hirohide Yamaguchi becoming the new governor of the Bank of Japan is rising as Fumio Kishida's government begins to distance itself from "Abenomics."

But the report also added that Kishida's choice for the new governor of the Bank of Japan will not become clear until January 2023 at the earliest.

Hirohide Yamaguchi served as a vice governor of the Bank of Japan for five years until he stepped down in 2013. Since the Bank of Japan retired, he has warned of the rising cost of long-term easing policies and has also strongly criticized Haruhiko Kuroda's stimulus policies.

In an interview with Reuters in December this year, Hirohide Yamaguchi also called for a more flexible monetary policy. He believes that if the Japanese economic situation is sufficient to bear the risk, the Bank of Japan will be ready to raise the long-term interest rate target in 2023.

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