(June 10): Bank of Japan Governor Kazuo Ueda has been hospitalised and is expected to miss next week’s policy meeting, according to the BOJ.
“The governor is currently hospitalised for treatment of a hepatic cyst infection,” the BOJ said in a statement Wednesday. “His hospital stay is expected to last approximately two weeks.”
For the June 15-16 meeting, deputy governor Ryozo Himino will serve as acting chair while another deputy, Shinichi Uchida, will host a post-meeting press conference, the bank said.
The BOJ is widely expected to raise the policy rate to its highest level since 1995 at the gathering. Ueda’s absence is unlikely to shift those expectations as many of his fellow board members have expressed or signalled the need for a hike since the last meeting.
Hepatic cysts are abnormal sacs on the liver that usually don’t cause any symptoms or require medical attention, according to the American Liver Foundation. Still, an infected liver cyst often requires long-term hospital care and can be fatal, according to The Lancet.
The central bank said it expected Ueda to attend the July policy meeting after leaving hospital.
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According to the BOJ’s media relations division, the governor will express his views via a statement at the June gathering but will refrain from casting a vote.
“Fundamentally, this is a health issue, so I don’t think it has any bearing on the conduct of monetary policy. The policy decision itself is likely already largely settled,” said Takeshi Minami, chief economist at Norinchukin Research Institute. “Deputy Governor Uchida is highly experienced as a central banker so attention will shift to when the next move might come and what sort of signals he gives on that front.”
Almost all BOJ watchers expect a rate hike to 1% next week with many of them pointing to the importance of Ueda’s signal for further rate increases in a Bloomberg survey published Wednesday.
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Since taking the helm of the BOJ in April 2023, this is the first time Ueda, 74, would skip a policy meeting or be hospitalised.
Uchida himself entered hospital for treatment of leukaemia in November 2025 and attended some meetings remotely. He was discharged from hospital last month, according to the bank.
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