Bank of Japan Governor Haruhiko Kuroda will probably be reconfirmed by parliament for a full five-year term tomorrow, after the bank said it will double monthly government bond purchases in a bid to defeat deflation.
Haruhiko Kuroda will appear before parliament again even if he’s confirmed this week as Bank of Japan governor as a technicality in the nomination process means lawmakers will vote twice on his candidacy.
Japan’s newest political force will “leverage” its popularity to push the government and the Bank of Japan to set an inflation target of 2 percent and seek further monetary easing, party chief Yoshimi Watanabe said.
Japanese Finance Minister Taro Aso said that the next governor of the Bank of Japan doesn’t have to be someone with a finance ministry background, after an opposition party said it wouldn’t support such a candidate.
The Bank of Japan made its strongest commitment yet to end two decades of stagnation, shifting to Federal Reserve-style open-ended asset purchases while disappointing investors by delaying the program until next year.
Japanese Prime Minister Shinzo Abe must not pick a Bank of Japan bureaucrat to be the next central bank governor and should consider former economy minister Heizo Takenaka for the post, an opposition party leader said.
Prime Minister Shinzo Abe shortened his list of candidates for Bank of Japan governor as he seeks to end decades of reluctance at the central bank to accept responsibility for the nation’s inflation rate.
Prime Minister Shinzo Abe takes his plans to pull the economy out of recession to a divided parliament next week, seeking to win support for reshaping the Bank of Japan in favor of aggressive monetary easing.