Japan to Tap Kuroda to Head Central Bank: Reports

NEW YORK ( TheStreet) -- Japan's prime minister is expected to nominate Asian Development Bank President Haruhiko Kuroda to take the reins at the nation's central bank, according to published media reports.

Citing anonymous sources, Reuters and The Wall Street Journal reported Sunday that the government planned to appoint Kuroda, a proponent of an expansionary monetary policy, to be chief of the Bank of Japan.

The selection of Kuroda, who oversaw the finance ministry's currency policy in the early 2000s, would fulfill Prime Minister Shinzo Abe's December pledge to appoint a central banker who would dramatically increase the nation's money supply, the Journal reported.

Such a move would increase the number of yen in circulation and drive down its value, making Japanese exports more attractive in world markets.

Abe's chief spokesman declined to comment, the Journal reported. Kuroda also declined to comment, the newspaper reported.
This article was written by a staff member of TheStreet.

If you liked this article you might like

First Ladies of the United States and Their Causes

First Ladies of the United States and Their Causes

The Best Hotels in the World

The Best Hotels in the World

Uber Posts $1.1 Billion Fourth-Quarter Loss as Revenue Rises to $2.2 Billion

Uber Posts $1.1 Billion Fourth-Quarter Loss as Revenue Rises to $2.2 Billion

Futures Rise, Asia Markets Jump as Global Rebound Takes Hold

Futures Rise, Asia Markets Jump as Global Rebound Takes Hold

Our Columnists Tell You How to Play a Wild Wall Street

Our Columnists Tell You How to Play a Wild Wall Street