Japan government promoting Bank of Japan’s Executive Director to deputy governor

Vastavam web: Japan’s government is considering promoting Bank of Japan’s Executive Director Masayoshi Amamiya to one of the bank’s two deputy governors, Jiji news agency reported on Sunday, citing unidentified sources.The government has decided to nominate Haruhiko Kuroda for a rare second term as governor of the central bank when his current stint expires in April, a person briefed on the matter said on Saturday, a sign Japan’s ultra-loose monetary policy would remain in place.

The Mainichi newspaper also reported on Sunday that Amamiya is a leading candidate for a deputy governor to replace Nakaso after Jiji’s earlier report.Amamiya oversees the BOJ’s monetary policy drafting and is known for masterminding most of the bank’s innovative policy measures – including its huge asset-buying programme and yield curve control.