TOKYO (Kyodo) -- The Bank of Japan said Wednesday that Junko Koeda, a former economics professor at Waseda University, has joined its nine-person Policy Board, becoming its second female member.

A former economist at the International Monetary Fund specializing in macroeconomics and international finance, she replaced Seiji Adachi, a former economist at Marusan Securities Co. and advocate of aggressive monetary easing.

She is the second woman to join the board after Junko Nakagawa, who served as the head of Nomura Asset Management Co. and became a BOJ board member in 2021.

"It is desirable that people who have various backgrounds, not just limited to women, are involved in decision-making," Koeda said at a press conference.

Koeda said the country's real interest rates are at extremely low levels but added she needs to see various data to decide whether a change in current monetary policy is necessary.

The appointment comes at a time when the BOJ is trying to normalize its monetary policy after a decade of massive stimulus measures.

The 49-year-old former professor is expected to join the bank's next policy meeting to be held on April 30 and May 1, with many market players looking for hints as to what stance she will take on the bank's future course of action.

A graduate from the University of Tokyo, she received a doctoral degree in economics from the University of California, Los Angeles, in 2005.