Prime Minister Shinzo Abe is preparing to nominate Asian Development Bank chief Haruhiko Kuroda as the next governor of the Bank of Japan, government sources revealed Sunday.
Abe's government is expected to submit its candidate to succeed outgoing BOJ Gov. Masaaki Shirakawa to the Diet this week. The nomination of the central bank's new head, as well as two deputy governors, must be approved by both the Lower and Upper houses.
Kuroda, 68, has extensive international connections after serving as vice finance minister for international affairs, as well as foreign exchange policy, from 1999 to 2003. He is also known to support aggressive monetary easing to tame Japan's stubborn deflation, in line with Abe's policies since taking office in late December.