HomeEconomyJapan gov't tests Amamiya for BOJ chief - Nikkei Economy Japan gov't tests Amamiya for BOJ chief – Nikkei By farahat February 5, 2023 0 56 views Share FacebookTwitterPinterestWhatsApp JP 40 +0.% Add to/Remove from Watchlist Add to watch list Add location The location has been added successfully and completely to: Please name your portfolio type: purchase Sell date: quantity: price point value: Leverage: 1:1 1: 1: 1: 1: 1: 40 1: 25 1: 100 1: 52 Committee Ion: 2013 225 Create New Watchlist Create 400132 1000 500132 + add another position to close by Daniel Leussink and Tetsushi Kajimoto TOKYO (Reuters) – The Japanese government has tested Bank of Japan (BOJ) Deputy Governor Masaka Amamiya as central bank governor, replacing current Governor Haruhiko Kuroda, 178 Nikkei newspapers reported early on Monday, citing anonymous government and ruling party sources. The next BoJ governor will face the tricky task of normalizing ultra-loose monetary policy, sparking growing criticism of market-distorting Function. As a career central banker who drafted many of the BoJ’s monetary easing tools, Amamiya is being viewed by the market as the number one contender to succeed the BoJ as the next governor. Prime Minister Fumio Kishida’s government is in the final stages of deciding on Kuroda’s successor, as well as two new deputy governors, and is in discussions with those in power about the process Alliance, Nikkei said The government’s nominees will be submitted to parliament later this month and will come into force after mutual approval due to the ruling coalition in the Japanese state An absolute majority in the legislature (i.e. Congress) is virtually a foregone conclusion. The Nikkei report did not say whether Amamiya accepted the invitation. When asked about the Nikkei report, Finance Minister Shunichi Suzuki told reporters that he had not heard that the government had provided Amamiya with the report. Work. The prime minister’s office and the BOJ could not immediately be reached for comment. Amemiya did not comment to reporters about becoming BOJ governor when asked whether he had been probed, Jiji news agency said. Kishida’s selection of Kuroda’s successor, whose five-year term ends on April 8, could affect how long the central bank Its massive stimulus program is coming to an end as inflation hit 4% in December, double its 2% target. The U.S. dollar rose 0.5% to . Yen, following the Nikkei report. Earlier, it rose to 11. JPY as the market sees Amamiya as more dovish than other contenders for the position, up to 11 first level in over three weeks. If Amamiya becomes governor, it will leave bulls holding the yen and wanting more hawkish people, says Chris Weston, head of research at Pepperstone Investors, such as Bohing Yamaguchi, the former deputy governor, came to get the job, which would frustrate investors. “Amamiya, if accepted, will have full control over policy changes, the idea of policy continuation is at That’s right here,” he said, adding that investors’ base case was for the BOJ to adjust its yield control policy in late April and is now reviewing the call. Amamiya at played a key role in drafting Kuroda’s asset purchase plan, And has been calling for ultra-low interest rates. But he also said in July that the BOJ must “always” consider means of exiting its ultra-loose monetary policy. Amamiya and Wakatabe Masazumi are currently Deputy Governors, but their five-year terms end in March . 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