The Abe administration has nominated a proponent of reflationary monetary policy for the central bank's board, buttressing Gov. Haruhiko Kuroda's effort to end a two-decade slump in the world's third-biggest economy.
The government proposed economist Yutaka Harada to replace Ryuzo Miyao, whose term ends March 25, according to a document distributed to reporters at the Diet on Thursday. The Waseda University professor, who has said Japan can beat deflation by printing money, co-edited a 2013 book titled "Reflationary Policy Revives Japan's Economy" with Deputy Gov. Kikuo Iwata and Koichi Hamada, an adviser to Abe on monetary policy.
The pick would give Kuroda another ally on the board after a decision in October to increase already unprecedented easing was carried by the narrowest margin since 2008. Prime Minister Shinzo Abe will have another chance to bolster Kuroda's sway on the board when an opponent of the extra stimulus steps down in June.