admincorrect choice”, minister Taro Aso told reporters in Seoul about the plan after meeting newly inaugurated South Korean President Park Geun-Hye, according to Jiji Press news agency.
Japanese media reported that Abe was set to submit his nomination of the Asian Development Bank chief to parliament for approval this week.
The markets liked the thought of a man known to be in favour of further monetary easing, with the news sending the dollar above 94 yen in Asian trade from 93,37 yen in New York last Friday.
“Mr Kuroda is well known internationally and perfectly fit for the post,” Hiromasa Yonekura, head of the powerful lobby the Japan Business Federation (Keidanren), told a news conference.
He cited Kuroda’s experience as a vice finance minister for international affairs, a post in charge of foreign exchange policy. Kuroda is known as an advocate of aggressive monetary easing to overcome Japan’s hard-wired deflation, a stance in line with Abe’s economic policy.
“As he has directed and managed the ADB, he is fully capable of moving an organisation,” said Yonekura.
If approved by parliament, Kuroda will succeed incumbent Bank of Japan governor Masaaki Shirakawa, who is stepping down on March 19, several weeks before the end of his term.
Kuroda “backs Prime Minister Shinzo Abe’s bold monetary easing policies while maintaining good links with the international financial industry”, the business daily Nikkei said.
Abe also plans to pick Tokyo’s Gakushuin University economics professor Kikuo Iwata as one of the deputy governors, while BoJ executive director Hiroshi Nakaso is the leading contender for the other deputy position, media reports said. – AFP.
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