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The Financial Express

Kuroda reappointed as BOJ chief for second term

| Updated: February 16, 2018 19:36:56


File Photo (Collected) File Photo (Collected)

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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