SINGAPORE – The nomination of the Bank of Japan’s newest board member is prompting investor speculation Gov. Haruhiko Kuroda will find it easier to expand monetary stimulus.
Yukitoshi Funo, an adviser at Toyota Motor Corp. who previously ran its Asian business outside of Japan, is waiting to be confirmed by the Diet. Funo is set to replace Yoshihisa Morimoto, who voted against the BOJ’s October decision to increase its asset purchases and whose term ends June 30. Kuroda won last year’s policy vote with a majority of just 5 to 4. The move sent the yen plunging.