Asian Development Bank President Gives 2 year Timeline for Japan 2 Percent Inflation Target

Asian Development Bank President Haruhiko Kuroda said two years was an appropriate time frame for the Bank of Japan to meet its new inflation goal, but declined to comment on whether he was in the running to take over at the central bank next month.

Kuroda, considered a strong candidate to replace BOJ Governor Masaaki Shirakawa when he steps down next month, told reporters on Monday he is happy with his current position and still has about four years left in his term at the ADB.

“I’m very satisfied with my current job and can’t make any other comments,” said Kuroda, who was in Tokyo for a seminar.

“I cannot respond to hypothetical questions,” he said when asked what he would do if Prime Minister Shinzo Abe offered him the top post at the BOJ.

Abe is set to nominate a new BOJ governor and two deputies in coming weeks, and has made it clear he wants someone who will take bolder steps than Shirakawa has to revive the economy.

But his push for a governor who will pursue radical policy is meeting resistance from his cabinet and bureaucrats, who are wary of triggering market turmoil.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza