Bank of Japan to Hold Next Policy Meeting Without Governor Ueda

Bank of Japan Governor Kazuo Ueda has been hospitalized for treatment of an infectious disease and is expected to miss the central bank's next policy-setting meeting. Ueda, 74, is expected to remain in hospital for about two weeks receiving treatment for an infected liver cyst.

The upcoming policy board meeting will be chaired by Deputy Gov. Ryozo Himino. A news conference after the meeting will be held by Deputy Gov. Shinichi Uchida. Both officials will act in Ueda's place during the two-day session.

Ueda is expected to work remotely while hospitalized.

The announcement follows a late-May statement that Deputy Gov. Uchida had been discharged from hospital after recovering from leukemia treatment.

Japan is widely expected to raise its short-term policy rate to 1 percent from 0.75 percent at next week's meeting. That change would bring borrowing costs to levels unseen in three decades.