Fukuda gives up considering Muto as BOJ head, to name new candidate

Prime Minister Yasuo Fukuda has given up the idea of trying to promote Bank of Japan Deputy Governor Toshiro Muto to governor of the central bank, a Democratic Party of Japan source said Sunday. ( Kyodo )

The government is expected to propose a new candidate for Bank of Japan chief on Monday following the opposition-led upper house's rejection of its original nomination, as the clock is ticking toward the end of the incumbent governor's term.

Fukuda conveyed his decision to give up his initial idea to the main opposition party earlier Sunday, the DPJ source said.

Yukio Hatoyama, secretary general of the Democratic Party of Japan, indicated Sunday that the main opposition party may accept Haruhiko Kuroda, president of the Asian Development Bank, or Hiroshi Watanabe, special adviser to the Japan Center for International Finance, as a candidate for next BOJ governor.

While closely monitoring moves at the DPJ, Fukuda is expected to make a final decision on the issue of BOJ chief to avoid a vacancy at the top central bank post amid the yen's rapid advance and a sagging stock market.

The House of Councillors, where the DPJ-led opposition camp holds a majority, last Wednesday voted down the government's nomination of Muto as next central bank chief.

The following day, the House of Representatives, controlled by the ruling camp, endorsed the nomination but the appointments of the BOJ chief and two deputies require approval from both houses of the Diet.

The opposition parties argue that Muto's background as vice finance minister, the top bureaucrat at the ministry, would hurt the BOJ's independence from the government on policy decisions.

As incumbent BOJ Governor Toshihiko Fukui's five-year term will expire Wednesday, the focus of attention is now on who the government will nominate as a new candidate for the top BOJ post.

Hatoyama said on a TV Asahi program, ''We heard they are good persons,'' referring to Kuroda and Watanabe, two former vice finance ministers for international affairs.

''We have not said all former Finance Ministry officials are disqualified'' for the post of BOJ governor, Hatoyama said. ''Former vice finance ministers for international affairs have knowledge of international financial issues.''

He said he has yet to hear a judgment from DPJ President Ichiro Ozawa on the BOJ personnel issue.

A senior DPJ official said if the government nominates Kuroda or Watanabe, it would not be a proposal Ozawa could not accept.

Former Chief Cabinet Secretary Kaoru Yosano of the ruling Liberal Democratic Party, meanwhile, said the government should not nominate Muto as BOJ chief again unless it is absolutely unavoidable.

The upper house has also rejected the government's nomination of Takatoshi Ito, a University of Tokyo professor, as one of the new governor's two deputies, while backing the candidacy of Masaaki Shirakawa, a former BOJ executive director, as the other deputy.

The government is scheduled to present candidates for BOJ chief and one of the two deputy governors Monday afternoon. Both chambers will hold hearings from the two candidates Tuesday and vote on them Wednesday.

If the BOJ chief candidate does not win Diet approval, Shirakawa, endorsed by both chambers as BOJ deputy governor, is expected to serve as acting BOJ chief.

Subscribe to Trend in Google News! Subscribe
Azerbaijan reveals electricity generated by power plants in October 2021
Azerbaijan reveals electricity generated by power plants in October 2021
Petkim's revenues reached record high level this year - SOCAR Turkey CEO
Petkim's revenues reached record high level this year - SOCAR Turkey CEO
Gas consumption in Iran continues to grow
Gas consumption in Iran continues to grow
Loading Bars
Azerbaijan reveals electricity generated by power plants in October 2021
Kazakhstan's banks increase lending over 10M2021
Azerbaijan to develop single mobile app for various types of insurance – Central Bank
AZAL discloses reason for Baku-Nakhchivan flight delay
Georgia’s potato exports to Central Asia up
Russia records 32,648 new daily coronavirus cases, lowest number since Oct 15
Uzbekistan shares data on loan portfolio of its banks in 10M2021
Iran eyes increase in value of exports – IRICA
Georgia’s hazelnut exports continue to increase
Kazakhstan’s Samruk-Kazyna opens tender on car renting services
Azerbaijan’s Central Bank eyes introducing innovation in insurance sector
Georgia’s GDP to reach European level – minister
German companies sign contracts with Azerbaijan in railway construction
Kazakhstan reports increase in placed deposits value
Petkim's revenues reached record high level this year - SOCAR Turkey CEO
Gas consumption in Iran continues to grow
Azerbaijan produces over 20,000 PCR tests for COVID-19
Georgia reveals sectors affected by real GDP growth
SOCAR Turkey discloses its investments in Turkey (PHOTO)
Dynamics of European oil demand in 2021-23
Iran boosts exports via customs of Bushehr Province
Chinese FM makes statement on meeting of leaders of Azerbaijan, Russia, Armenia in Sochi
Europe to see increase in jet fuel demand – JP Morgan
Azerbaijan's air defense units carry out combat firing exercises (VIDEO)
Top Russian, Mongolian defense officials discuss cooperation
Azerbaijani currency rates for November 30
"International Youth Festival of Modern Muslim Culture" ended in Kazan (PHOTO)
French inflation hits 13-year high in November
World oil demand to rise in 2022
German companies express interest in investing in Azerbaijan's Alat Free Economic Zone
Kazakhstan’s oil construction company opens tender for electrical equipment
Azerbaijan sees increase volume of loans issued for construction sector
Military helicopter crashes in Azerbaijan
Kazakh energy minister talk sale of hydroelectric power plants to UAE
Iran wants lifting of all sanctions - AEOI
State Agency on Vocational Education and Azerconnect sign Memorandum of Understanding
Volume of Azerbaijani gas exports to Turkey disclosed
Japan confirms first case of Omicron variant of coronavirus
International Court of Justice to deliver its order on Azerbaijan's case against Armenia
Kazakhstan’s manufacturing industry maintains stable growth – ministry
Georgian stock market eyes additional investments
Kazakhstan’s KazMunayGas, Russia’s Tatneft establish JV for butadiene rubbers production
Azerbaijan, Iran implementing important projects - ambassador
Uzbekneftegaz obtains new industrial gas flow from Shimoliy Dengizkul field
Iran records increase in exports from Chaharmahal & Bakhtiari Province
Azerbaijan discloses volume of contaminated potatoes returned to Georgia
Vietnam to localize production of Russian Sputnik V vaccine
Kazakhstan's PM talks industrial development
Turkmenistan-Azerbaijan-Iran gas swap deal: chance to strengthen energy co-op
Uzbek BMB Group to organize export of saffron to Spain
India steps ups COVID-19 testing for international flyers
IIT-Guwahati develops coating for cloth masks for better COVID protection
India-Singapore flights commence under vaccinated travel lane
Number of flights via Iran’s Tabriz International Airport up
Georgia releases COVID-19 data for November 30
Vice admiral R Hari Kumar to take over as new chief of Naval staff today
JP Morgan expects Azerbaijan’s oil output to fall in 2023
CEO of European Azerbaijan School explains goals of hosting first IB conference (PHOTO/VIDEO)
Azerbaijan shows footage from Kalbajar's liberated Gilinjli village (VIDEO)
Azerbaijani oil prices increase
Azerbaijan sees growth in real estate registration rate for 10M2021 (Exclusive)
Iranian currency rates for November 30
Azerbaijan approves procedure for providing COVID-19 certificate
Uzbekistan shares updated COVID-19 data
Georgia shares data on TOP-5 potato export destinations for 10M2021
Kazakhstan’s Kazinform joins Turkic World media platform (PHOTO)
JP Morgan reveals forecasts for Azerbaijan’s 2021 oil output
Oil gains on bets OPEC+ will pause output hike
Azerbaijan approves amendments to law on vocational education
Azerbaijan may give incentives to support taxpayers offering local transport and forwarding services
Pakistan, Iran discuss establishment of barter system
Baku-Supsa loaded 1000th tanker at Supsa terminal on the Black Sea
Australian scientists establish platform to combine human, machine intelligence
Iran oil ministry requires more share from revenues - Energy Commission
Oil prices rise on bets OPEC+ will hold off output hike
654 more COVID-19 cases reported in Kazakhstan
Israel discovers 1,900-year-old industry building, large cemetery
Global coalition seizes 145.3 tonnes of cocaine - Colombia's navy
Snowfalls, heavy rains and strong winds hit Italy and Spain
Eight Iraqi officers probing attack on PM arrested on charges of negligence
Biden urges calm over Omicron COVID-19 variant
Germany's SPD will announce its ministers next week
Messi wins The 2021 Ballon d'Or
Georgia’s electricity exports double
Wild winds in Turkey claim lives, close Bosphorus strait
Azerbaijan represented at III Pacific Alliance International Cooperation Forum
Iran top nuclear negotiator, Mora meet ahead of Vienna talks
Uzbekistan, Kyrgyzstan discuss creation of trade-logistics complexes in border areas
Twitter CEO Jack Dorsey to step down
Georgian delegation leaves for Brussels
Azerbaijani, Saudi Arabian foreign ministries hold consultations
Famous artist receives Azerbaijani citizenship
Azerbaijan holds expanded meeting of Operational Headquarters for Combating COVID-19 (PHOTO)
Azerbaijan approves COVID-19 certificates
Azerbaijan discloses state budget revenues through State Customs Committee
Volume of loans issued in Azerbaijan’s real estate sector increases
Price indexes of industrial, construction sectors at Uzbek stock exchange fall
Kazakhstan to build hybrid solar power station
Azerbaijan's foreign trade turnover increases in 10M2021
Some CSTO members’ congratulations to Azerbaijan show Armenia's insignificance in CSTO - analyst
All news