Markets welcome rumour that Kuroda will head BoJ

Reports that the current head of the ADB will be appointed as Japan’s new central bank chief cheered investors yesterday.
Haruhiko Kuroda

Japanese stocks and the yen both rallied strongly yesterday after local news outlets reported that Haruhiko Kuroda is favoured to become the new central bank governor.

The 68-year-old economist is widely considered a safe pair of hands, particularly among the international financial community. Kuroda has been head of the Asian Development Bank since 2004 and has decades of experience at Japan’s finance ministry, where his last post was as an economic adviser to Junichiro Koizumi’s cabinet.

Masaaki Shirakawa, the current governor, is stepping down on March 19 after disagreements with Prime Minister Shinzo Abe over monetary...

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