Japan’s ticking debt time bomb will likely complicate the next central bank governor’s task of steering a smooth exit from ultraloose monetary settings, with rising long-term interest rates already forcing policymakers to amend budget projections.
Prime Minister Fumio Kishida’s administration has nominated Kazuo Ueda, a former member of the central bank’s policy board, as its pick to succeed Bank of Japan Gov. Haruhiko Kuroda, people familiar with the matter said Friday.
Kuroda retires on April 8 and leaves behind a policy that helped keep the cost of funding the country’s huge debt pile extremely low.
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