The Bank of Japan may pack a bigger punch under Haruhiko Kuroda, an opponent of deflation who ran the nation's currency policy and then built an international reputation leading the Asian Development Bank.
Finance Minister Taro Aso told reporters Monday that Kuroda, Prime Minister Shinzo Abe's pick as BOJ governor, would be the "correct" choice as next BOJ chief, noting an international finance background. Kuroda, 68, was in charge of foreign exchange issues at the Finance Ministry from 1999 to 2003.
Kuroda would need to be confirmed by both houses of the Diet should Abe nominate him. The Democratic Party of Japan, the largest party in the Upper House — where the ruling Liberal Democratic Party lacks a majority — is reportedly ready to approve Abe's selections.