Bank of Japan Governor Ueda hospitalized, will miss June meeting

Bank of Japan Governor Kazuo Ueda has been hospitalized for medical treatment and will miss the upcoming June 15-16 policy meeting, the central bank announced Wednesday. Deputy Governor Ryozo Himino will lead the rate review in Ueda's stead, with Deputy Governor Shinichi Uchida scheduled to conduct the post-meeting press conference.

Ueda is expected to remain hospitalized for approximately two weeks and plans to work remotely during this period. He is anticipated to return for the subsequent policy meeting scheduled for July 30-31. The Bank of Japan confirmed these arrangements in a statement.

Analysts do not anticipate Ueda's absence to alter the expected interest rate decision, with a 25 basis point hike to 1% widely predicted. However, attention may shift to whether Uchida's communication during the press conference conveys a more hawkish tone, potentially influencing the yen's trajectory.