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.
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