Japan's lower house clears Kuroda to head BoJ

Japan's lower house clears Kuroda to head BoJ
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Summary Kuroda vowed to "do whatever it takes" to achieve a 2 percent inflation target and end deflation.

 

TOKYO (AP) - The lower house of Japan s parliament has endorsed Haruhiko Kuroda, a finance ministry veteran and president of the Asian Development Bank, to become central bank governor.

 

Kuroda, 68, has vowed to "do whatever it takes" to achieve a 2 percent inflation target and end deflation.

 

The ruling Liberal Democrats have already won support for Kuroda from the main opposition party, which still controls parliament s upper house. Lawmakers there are due to approve Kuroda s appointment on Friday.

 

Technically, however, Thurday s vote only allows Kuroda to stand in for current Bank of Japan Gov. Masaaki Shirakawa after he steps down on March 19, three weeks before his five-year term was due to end. Another vote is required to make his appointment permanent.
 

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