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BOJ’s Amamiya Likely for Rare Second Term

The Bank of Japan’s chief executor of its unprecedented monetary stimulus, Masayoshi Amamiya, is expected by central bank and Abe administration officials to be reappointed to a rare second term, according to people familiar with the discussions.

BOJ Governor Haruhiko Kuroda and his board are charged with making the determination — subject to the approval of Finance Minister Taro Aso — and the people weren’t aware if a decision has been made, asking not to be named as the conversations weren’t public. Amamiya’s four-year term as an executive director concludes June 2.

There has been only one renewal of an executive director position — a job just below that of board member — since the BOJ achieved legal independence in 1998. A reappointment of Amamiya would underscore the importance of his skills in helping craft the central bank’s plan to pull Japan out of deflation and achieve stable 2 percent consumer-price gains. The BOJ is now about half way to its target.

Bloomberg [1]

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