Friday, February 22, 2013
DJ: Aso Says New BOJ Chief Has To Have Experience In Managing Institution
TOKYO--Japan's Finance Minister on Friday signaled his wariness of appointing a scholar as the next head of the Bank of Japan, saying people with no experience in running a large organization are "unfit" for the job.
"Things don't move smoothly when those who have no experience in managing organizations try to administer an institution," Taro Aso said at a news conference after a regular Cabinet meeting. "I don't think the Bank of Japan is an exception to this, so basically, those who have never run an organization before are unfit for the BOJ governor post."
Mr. Aso said it is not a requirement to include a former Finance Ministry official in the coming new BOJ leadership, but whoever is taking on the BOJ governor or deputy governor position has to be able to communicate well with the ministry.
Mr. Aso added that while the BOJ chief doesn't need to be able to speak foreign languages "fluently," he needs "some language skills" to handle criticism from foreign policymakers.
Another requirement for a new BOJ governor would be to steer monetary policy in line with the joint statement the central bank signed with the government in January, which pledged joint efforts to overcome Japan's deflation and bring about 2% inflation at the earliest possible date.