TOKYO (Kyodo) -- The government on Tuesday nominated Junko Koeda, an economics professor at Waseda University, as a new member of the Bank of Japan's Policy Board.

The nomination of Koeda to replace Seiji Adachi, whose five-year term on the nine-member board will end on March 25, was presented to executives of the steering committees of the parliament's two chambers for approval.

Koeda, a former economist at the International Monetary Fund, graduated from the University of Tokyo before receiving a doctoral degree in economics from the University of California, Los Angeles. She became a full professor at Waseda in April 2022.

Adachi, a former economist at Marusan Securities Co. and advocate of aggressive monetary easing, joined the BOJ's Policy Board in March 2020.

The board comprises the BOJ governor, two deputy governors and six policymakers chosen from among financial and economic experts, and business managers.