Business | Banking
Japan picks Shirakawa to head BoJ
Japan's government put forward acting central bank governor Masaaki Shirakawa on Monday to head the Bank of Japan permanently, finally finding a candidate the veto-wielding opposition is likely to back after weeks of deadlock.
- Reuters
- Published: 20:42 April 7, 2008
Tokyo: Japan's government put forward acting central bank governor Masaaki Shirakawa on Monday to head the Bank of Japan permanently, finally finding a candidate the veto-wielding opposition is likely to back after weeks of deadlock.
The government, scrambling to resolve a row that has left the central bank without a permanent head for the first time in 80 years, wants a new governor in place in time for a G7 meeting on Friday in Washington that will study ways to calm turbulent markets.
"Shirakawa is the only person who is experienced enough to speak as a BoJ governor at the G7 meeting. It is the most realistic option," said Masamichi Adachi, an economist at JPMorgan Securities.
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