Japan Opposition to Argue Iwata BoJ Deputy Nomination

A Japan opposition Democratic Party lawmaker who is involved in screening candidates for the Bank of Japan board said on Tuesday he cannot support Kikuo Iwata, the government’s nominee for one of the two BOJ deputy governor posts.

Keisuke Tsumura, a Democrat lawmaker who questioned Iwata at a confirmation hearing, told reporters he objected to Iwata because Iwata wants to revise the law governing the central bank’s independence.

Tsumura said he will report his stance to senior members of the Democratic Party.

The ruling Liberal Democratic Party holds a majority in the lower house of parliament, but does not have a majority in the upper house. The opposition Democrats could potentially hold decisive votes for nominees in that chamber.

via Reuters

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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