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 | 08:55pm US/Eastern

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)

React to this article
Latest news
Date Title
09:12a BORGWARNER : BW00216 BW Receives 2014 Toyota Regional Contribution Award
09:12a NIKON : Special Notice - RPIP Scientific Equipment Installation Sole Source
09:12a APPLE : Tim Cook to give his fortune to charity
09:12a DAIMLER : Major ceremony with around 700 guests: Mercedes-Benz location in Sindelfingen celebrates its 100-year anniversary
09:12a VESTEL ELEKTRONIK SANAYI VE TICARET : Share Transaction Notice
09:12a NCGA NATIONAL CORN GROWERS ASSOCIATION : FARMLAND Brings Home Top Honors in Entertainment at PR Week Awards
09:12a HMT UK HER MAJESTY TREASURY : EU decision on aggregates levy ends period of uncertainty for large part of industry
09:12a VESTEL ELEKTRONIK SANAYI VE TICARET : Share Transaction Notice
09:12a HMT UK HER MAJESTY TREASURY : Chancellor showcases Northern Powerhouse to US delegation
09:12a PHARMERICA : Amerita Announces Planned Transition of President and Chief Executive Officer
Latest news
Advertisement
Hot News 
JUDGES SCIENTIFIC : Profit Up But Like-For-Like Revenue Shrinks
ANDREWS SYKES : Temporary arena in London requires replacement heating
MORPHOSYS : to Host Conference Call on Announcement Regarding the Termination of the Co-development and Co-promotion Agreement for MOR202
ZEAL NETWORK SE : Revised dividend policy to pay annual dividends of EUR 2.80 per share; first interim dividend of EUR 0.70 to be paid on... (DGAP Adhoc)
CLOUDBUY : Partners With US Cloud-Based Provider, Gets First Deal
Most Read News
03/26 DEUTSCHE LUFTHANSA : EDITORIAL: The mystery of Germanwings Flight 9525
03/26 CANFOR : and Canfor Pulp Products Inc. Announces Annual General Meeting and First Quarter Results Conference Call
03/26 ENDURO ROYALTY : Provides Updated Tax Information
07:42a Switzerland's UBP to buy RBS's Coutts International
03/26 AMERICAN APPAREL : Ousted American Apparel chief seeks $40M over firing
Most recommended articles
09:05a MARK FIELDS : Ford CEO Fields received $18.6 million 2014 compensation
09:00aDJMARKET SNAPSHOT : U.S. Stocks: Futures Point To Fifth Day Of Losses
08:59a Goldman climbs to top commodity bank ranking over JP Morgan
08:58aDJFOSUN CEO : In Exclusive Talks to Buy Five Insurance Firms in Europe, U.S., Asia -- Update
08:55aDJU.S. 4Q GDP Expanded at 2.2% Pace
Dynamic quotes  
ON
| OFF