The Diet on Friday approved the nomination of Haruhiko Kuroda as Bank of Japan governor and those of Kikuo Iwata and Hiroshi Nakaso for his deputy chiefs, paving the way to anticipated drastic monetary easing to invigorate the deflation-beset economy.
The House of Councilors voted for the government's selection of Kuroda, currently president of the Asian Development Bank, along with Iwata, a Gakushuin University professor, and Nakaso, who is serving as the central bank's executive director, despite the ruling coalition's lack of a majority in the chamber.
As Kuroda and Iwata, strong proponents of bold credit easing, have pledged to achieve a 2 percent inflation target within two years, they are expected to act swiftly after taking office Wednesday, according to analysts.