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ECONOMY > Economic Policy

Next BOJ chief must be primed for deflation fight: cabinet secretary

  • June 8, 2017
  • , Nikkei Asian Review , 7:12 a.m.
  • English Press

Haruhiko Kuroda’s term as governor ends in April

 

TOKYO — The next governor of the Bank of Japan must clearly understand Prime Minister Shinzo Abe’s firm determination to bringing Japan out of deflation, Chief Cabinet Secretary Yoshihide Suga said Wednesday.

 

Speaking at a lower house committee on the cabinet, Suga responded to a question by Takatane Kiuchi of the main opposition Democratic Party. Incumbent Gov. Haruhiko Kuroda’s term is set to end next April, but he could still be reappointed.

 

Selection of the BOJ chief is a government prerogative, but the candidate must be approved by the Diet to take up the position. “We will choose from a broad range of candidates and consult pertinent ministers, but ultimately the decision will be up to the prime minister,” Suga said.

 

In a news conference that followed, Suga commended Kuroda for the single-minded resolve he brought to the deflation fight since becoming the central bank chief. Asked about the possibility of Kuroda being appointed to another term, Suga limited his remarks to: “The most suitable candidate as of April 8 next year will be selected.”

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