Govt To Formally Propose Kuroda As BOJ Chief On Thursday

TOKYO (Nikkei)--The government will present its nominees for new leaders of the Bank of Japan to the Diet steering committee on Thursday, seeking to gain approval from both chambers by mid-March.

The government will nominate Haruhiko Kuroda, president of Asia Development Bank, as new BOJ governor, and Gakushuin University economics professor Kikuo Iwata and current BOJ executive director Hiroshi Nakaso as the two deputy governors.

With incumbent Governor Masaaki Shirakawa and the current deputy governors set to resign on March 19, the government and the ruling parties aim to obtain approval for the appointments at the plenary sessions of both chambers by March 15.

In the upper house, controlled by the opposition parties, the main opposition Democratic Party of Japan will likely vote in favor.

(The Nikkei, Feb. 28 morning edition)

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