Japan - Bank head nominated
March 3, 2013, Sunday
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Print Edition
Print Edition
THE Japanese government has nominated Asian Development Bank President Haruhiko Kuroda to head Japan's central bank, counting on his support for more aggressive monetary policy to help the world's third-biggest economy escape recession and deflation.
The current Bank of Japan governor, Masaaki Shirakawa, will step down on March 19, three weeks before his term was due to end. Prime Minister Shinzo Abe favored Kuroda, whose formal nomination was made to the parliament on Thursday. A vote on the choice is due next month. The nomination of Kuroda, 68, was widely expected. The former vice minister of finance has criticized central bank policies in the past.
The current Bank of Japan governor, Masaaki Shirakawa, will step down on March 19, three weeks before his term was due to end. Prime Minister Shinzo Abe favored Kuroda, whose formal nomination was made to the parliament on Thursday. A vote on the choice is due next month. The nomination of Kuroda, 68, was widely expected. The former vice minister of finance has criticized central bank policies in the past.
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