Japan picks Shirakawa to head BoJ

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.