Japan has extended the term of Masato Kanda, its top currency official, for another year, in an unusual move that keeps the man behind last year’s ¥9.33 trillion ($65 billion) intervention strategy in place during a renewed bout of yen weakness.
Kanda has become just the fourth official in the past three decades to serve a third year as vice finance minister for international affairs, Finance Ministry documents indicated Tuesday.
"We put appropriate people in the right positions,” Finance Minister Shunichi Suzuki told reporters Tuesday following the announcement of Kanda’s reappointment. "Japan will also preside over the Group of Seven meetings until the end of the year. We need to maintain close collaboration in the field of international finance with G7 and other nations.”