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Kuroda: expected BoJ chief advocate of monetary easing

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(Globalpost/GlobalPost)

Haruhiko Kuroda, set to be tapped as the next head of the Bank of Japan, is a finance veteran who has long pushed for the kind of monetary easing demanded by Japan's new government to stoke growth.

The 68-year-old head of the Manila-based Asian Development Bank (ADB) was a longtime bureaucrat in Japan's finance ministry who is known to be on close terms with key players in the world of global finance and central banking.

He spent decades in the Japanese finance ministry and was responsible for international affairs and foreign exchange policy between 1999 and 2003. He assumed the top job at the Manila-based ADB in 2005.

Kuroda, a stern critic of the BoJ, has been a vocal supporter of Prime Minister Shinzo Abe's call for the central bank to launch aggressive easing measures and set a two-percent inflation target -- which it adopted last month -- as a means to beat Japan's long-running deflation.

Kuroda's expected two deputy governors are Kikuo Iwata, an economics professor at Tokyo's Gakushuin University, and Hiroshi Nakaso, the BoJ's executive director and a career central banker.

Iwata has long pushed for the BoJ to up its easing efforts to turn around the world's third-largest economy.

Nakaso was directly involved in BoJ talks with other central banks in 2008, as they scrambled to contain the impact of the collapse of Wall Street titan Lehman Brothers.

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http://www.globalpost.com/dispatch/news/afp/130227/kuroda-expected-boj-chief-advocate-monetary-easing