Bank of Japan Governor Kazuo Ueda Hospitalized Ahead of June Policy Meeting

Bank of Japan Governor Kazuo Ueda has been hospitalized, the central bank said in a statement. He will not attend the two-day monetary policy meeting scheduled for June 15-16. Deputy Governor Ryozo Himino will chair the meeting, while Deputy Governor Shinichi Uchida will hold the afternoon press conference following the policy decision.

The Bank of Japan did not provide further details about Ueda’s condition, but said he is expected to remain hospitalized for about two weeks. The central bank is widely expected to raise interest rates by 25 basis points at its June meeting, which would lift the benchmark rate to 1%, its highest level in more than three decades.

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