Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

ADB'S Kuroda leading candidate to be next BOJ governor: Asahi

02/22/2013 | 07:55pm US/Eastern
Recommend:
0

Asian Development Bank President Haruhiko Kuroda is the leading candidate to be the government's nominee for the Bank of Japan governorship, the Asahi newspaper reported, which would signal a shift toward more aggressive monetary easing.

Prime Minister Shinzo Abe will make a final decision soon, in consultation with Finance Minister Taro Aso, and submit the government's nominee for parliamentary approval next week, the paper said on Saturday.

Kuroda, Japan's former top financial diplomat, has been regarded as among the key candidates to succeed incumbent BOJ Governor Masaaki Shirakawa, who leaves the central bank with his two deputies on March 19 after a five-year term.

Former top financial bureaucrat Toshiro Muto and Kazumasa Iwata, a former government economist and deputy BOJ governor, have also been floated as strong candidates to be the next BOJ head.

Kuroda is now leading the race, Asahi cited Finance Ministry officials and senior government officials as saying.

Abe, now in Washington, said he planned to seek the backing of a junior coalition partner and opposition parties over the nomination of a new BOJ governor on his return from his U.S. trip on Sunday.

The nomination of the next BOJ governor must be approved by both houses of parliament. Abe's ruling Liberal Democratic Party lacks a majority in the upper house and needs support from opposition parties to get the nomination passed.

As Japan's top financial diplomat from 1999 to 2003, Kuroda aggressively intervened in the exchange-rate market to weaken the yen to support the country's export-reliant economy.

He has also been a vocal advocate of more aggressive monetary easing, a view in line with that of Abe, making him a strong candidate to head the BOJ.

If Kuroda were to be chosen as next BOJ governor, he would be cutting short his term as head of the ADB, which could weaken Japan's standing as the country that traditionally provides the head of the organization established in 1966.

(Reporting by Leika Kihara; Editing by Jon Hemming and Peter Cooney)

Recommend :
0
React to this article
Latest news
Date Title
<1m ago Canadian earnings declared Tuesday: Orbit Garant Drilling (Canadian earnings declared Tuesday)
<1m ago WINM TECH : WindStream Technologies Celebrates 3 Years of Manufacturing
<1m ago Vantage Health Names Dr. Steven R. Steinhubl, Director of Digital Medicine at Scripps Translational Science Institute, New Chairman of the Board
<1m ago FINANCIAL APPS : to Present at FinDEVr 2014
1m ago NJ's Largest Nonprofit Home Health Care Agency Joins Deutsche Bank to Ring New York Stock Exchange Opening Bell
1m ago GOOGLE 'C' : Marketing Strategists at Ingenious Machines Explain the Importance of Ensuring Compliance With the Latest Google Search Updates
1m ago GRIDPOINT : Announces Carbon Reduction Partnership with CDP
1m ago Top Tips to Strengthen Security and Protect Systems Against Insider Misuse
2m ago GOOGLE 'C' : picks HTC for Nexus
2m ago WirelessCo 'a game-changer'
Latest news
Advertisement
Hot News 
DIXONS CARPHONE : UK's EE to buy 58 stores from Phones 4u for 2.5 million pounds
REGENERSIS : *panmure cuts regenersis price target to 403 (502) pence - 'buy'
ASCENA RETAIL : Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A"). (form 10-K)
NAHL : Half-Year Profit Hit By UK Legal Aid Legislation
MADAGASCAR OIL : TAKING AIM: VSA Capital Keeps Madagascar Oil At Buy
Most Read News
1d ago TEKMIRA PHARMACEUTICALS : U.S., Canada allow emergency use of Tekmira's Ebola treatment
1d ago BNP PARIBAS : Chairman Baudouin Prot to leave: Le Figaro
1d ago DIXONS CARPHONE : UK's EE to buy 58 stores from Phones 4u for 2.5 million pounds
1d ago AIRBUS : Boeing spar over jet production strategy
1d ago MCGRAW HILL FINANCIAL : to Sell McGraw Hill Construction to Symphony Technology Group
Most recommended articles
5d ago Main Italian lenders took 23 billion euros of cheap ECB cheap
2m agoDJCrude Oil Prices Waver on Positive China Data, High Supplies
6m agoDJNATO Says Russia Withdrawing Troops From Eastern Ukraine
7m agoDJNew Home Sales Seen rising 3.4% -- Data Week Ahead
8m ago Total sells stake in U.S. shale gas transport firm for up to $450 million
Dynamic quotes  
ON
| OFF