Japan?s Abe Says He?ll Seek ?Bold Leader? to Head Central Bank

Japanese Prime Minister Shinzo Abe seeks a ?bold policy leader? as the next Bank of Japan governor as he aims to end deflation and drive a recovery from recession, Bloomberg reported. The choice of a successor to Masaaki Shirakawa, whose term ends in April, will be made after consultations with Yale Professor Emeritus Koichi Hamada and others, Abe said yesterday on public broadcaster NHK?s ?Sunday Debate? program. The government and central bank need to agree on implementing a 2 percent inflation target to end deflation, Abe said. The prime minister last week announced a 10.3 trillion yen ($115 billion) spending package, which includes money to stimulate private investment to boost the economy. ?We want someone who can push through bold monetary policy,? Abe said. ?We are thinking hard about fiscal discipline as we form the next fiscal year?s budget. Still, the economy isn?t going to change unless we display a firm commitment to escape deflation at the same time.? Consumer prices excluding fresh food, a benchmark monitored by the central bank, haven?t advanced 2 percent for any year since 1997, when a national sales tax was increased. They fell 0.1 percent in November, compared with a year earlier. Read more.

Source: http://globalinsolvency.com/headlines/japan-s-abe-says-he-ll-seek-bold-leader-to-head-central-bank

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