Japan Close to Naming Head of Central Bank
After 40 years at the Bank of Japan building up the financial expertise and connections that earned him the nickname “Prince of the BOJ,” Toshihiko Fukui may finally have his chance to be king.
Tokyo daily Yomiuri Shimbun is reporting that final talks were underway to appoint Fukui as new governor of the central bank this week to replace Masaru Hayami, 77, whose term ends March 19.
Fukui’s selection by Prime Minister Junichiro Koizumi would represent continuity rather than change and would disappoint politicians who have been clamoring for a more radical approach to solving Japan’s economic woes.
The respected Fukui, 67, is seen by BOJ watchers as a safe pair of hands who is unlikely to depart drastically from the policies pursued by his predecessor.
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