The Bank of Japan (BOJ) announced that Governor Kazuo Ueda was discharged from hospital on Friday (June 26) after receiving treatment for a liver problem. His discharge paves the way for him to attend the upcoming July policy meeting, following his absence from this week's policy session.
Ueda, 72, was admitted to hospital on Wednesday (June 24) for treatment and health monitoring. The BOJ had previously stated that the Governor would temporarily step back from duties on doctors' orders, with Deputy Governor Shinichi Uchida taking over as acting chair of the two-day policy meeting that concluded on Friday.
This marks the first time a BOJ governor has missed a monetary policy meeting due to health reasons since 2003, when then-Governor Toshihiko Fukui was hospitalized for pneumonia. The interest rate decision at the June meeting was still passed unanimously, with the BOJ maintaining its short-term policy rate at 0.5%.
In a statement, the BOJ said that Ueda's health has improved and he is expected to return to work next week. "The Governor has now recovered and will continue outpatient treatment," a BOJ spokesperson said. Ueda is expected to chair the July policy meeting scheduled for July 30-31.
