BOJ: Japan lower house endorses Kuroda

Editorial Team
Editorial Team
BOJ: Japan lower house endorses Kuroda

Japan’s lower house of parliament has endorsed Haruhiko Kuroda to become the next central bank governor.

The lower house also approved government nominees Kikuo Iwata and Hiroshi Nakaso to serve as the Bank of Japan’s (BOJ) two deputy governors.

Kuroda’s appointment will have to be approved in the upper house on Friday; media reports suggest that is likely.

Approval in both the upper and lower houses of parliament is necessary for the nominees to take control of the central bank after its current leadership steps down on March 19.

Kuroda, 68, has vowed to “do whatever it takes” to achieve Japanese Prime Minister Shinzo Abe’s ambitious two percent inflation target and his appointment would herald a shift to more aggressive monetary easing aimed at ending nearly 20 years of deflation.

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.