'Very capable' Shirakawa to be new BOJ boss

8 April 2008

The Bank of Japan is to appoint Masaki Shirakawa as its new governor following a recommendation from the government, Daily Yomiuri reports.

Speaking in the Diet yesterday evening, chief cabinet secretary of the ruling Liberal Democratic Party, Nobutaka Machimura, also recommended the appointment of Hiroshi Watanabe as one of the central bank's deputy governors.

The appointment of Mr Shirakawa is supported by the opposition Democratic Party of Japan - support which is not, however, extended in the case of Mr Watanabe.

Japan's House of Representatives and House of Councillors are scheduled to vote on the appointments tomorrow - after which Mr Shirakawa is set to be confirmed in his new position.

Speaking to reporters yesterday, prime minister Yasuo Fukuda said: "Mr. Shirakawa is a very capable person and can do a very good job as the [central bank's] governor.

"Mr Watanabe has been working in international finance for a long time, so he is suited for the job - if they [the opposition parties] look at what kind of people these two are, then I'm sure they will give us their support."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development