Bank of Japan has appointed 55-year-old central banker, Tokiko Shimizu as one of the Bank of Japan's six executive directors. Currently Shimizu is the BOJ's branch manager in the central Japan city of Nagoya. 

She was also the bank’s first female branch manager in 2010, when she was picked to run the relatively small Takamatsu branch. Then later she was promoted to head the Nagoya branch in 2018, where she has been in charge of monitoring one of Japan’s biggest regional economies, home to Toyota Motor Corp. and the center of the country’s auto industry.

Shimizu’s appointment as one of the bank’s six executive directors, the top rank outside the policy board, is another step forward for gender equality at the BOJ. Still, like many Japanese institutions, the bank lags far behind global peers in promoting women.

Only 13 percent of senior BOJ managerial posts are filled by women. While 47 per cent of all BOJ staff are women, the ratio drops to 20 per cent for career and expert positions, according to BOJ data.

Female leaders or male, all face the challenge of the global health crisis and its impact on the economy. Shimizu had last month after a branch manager’s meeting shared that the bank needs to be ready for severe economic conditions. The pandemic has slowed down the economy, with most businesses closed and travel and tourism impacted. As one of the key leaders at Japan’s central bank Shimizu will play a key role in helping the bank frame a robust recovery strategy for the country. 

Image Credits: Nikkei Asian Review