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6 years ago

Kuroda reappointed as BOJ chief for second term

File Photo (Collected)
File Photo (Collected)

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Japan has reappointed central bank chief Haruhiko Kuroda for another term, amid heightened anxiety in Japanese and global financial markets.

The government on Friday nominated Kuroda, a 73-year-old former finance ministry bureaucrat, to serve another five-year term when the current one ends in April.

That would make him the longest serving BOJ head in half a century, a sign of premier Shinzo Abe’s confidence in the governor’s ability to pull Japan’s economy out of stagnation, reports Reuters.

Japan government also submitted to parliament its nomination of Masazumi Wakatabe, a 52-year-old Waseda University academic and an advocate of aggressive easing, as deputy governor.

The choice of Wakatabe could complicate Kuroda’s task of engineering a slow but steady exit from the BOJ’s stimulus.

The other deputy governor post went to BOJ Executive Director Masayoshi Amamiya, a veteran central banker known for masterminding various monetary policy steps.

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