Haruhiko Kuroda Nominated as Next BOJ’s Governor
As per recent reports, it has been revealed that a key opposition party has agreed to approve the appointment of Haruhiko Kuroda as the next governor for Bank of Japan. The Democratic Party of Japan which is a key party said that it would not be easy for them to oppose Kuroda as financial markets support him.
In fact, financial markets were quite impressed by his March 4 statement on monetary easing. Kuroda will be retiring from the post of president of the Asian Development Bank on March 18. When asked from Kuroda, he was of the view that if gets selected then he is sure that it will be able to achieve a 2% inflation which is his target as well.
"It is possible to realize a 2-percent (inflation) at an early date, and I am confident that it is a mission of the BOJ", said Kuroda. While talking about the BOJ's effort on monetary easing, Kuroda did not find them to be sufficient enough.
According to him, not only quality wise but quantity wise extra efforts will be needed. One of the measures suggested by Kuroda was that the BOJ can continue buying longer-term instruments. It now has to be seen as whether Kuroda becomes next BOJ's governor or not.
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