This article in The Japan Times, based on an interview with new Economic Revitalization Minister Akira Amari, gives a more detailed idea of the new administration’s view of BOJ independence.
- “It’s very important that the new governor share this sense of crisis and realize Japan is losing its position as a major economic power,”
- the LDP won’t support the policy advocated by Your Party, (a minor party) – who have “urged that the BOJ law be revised to give the Cabinet the power to dismiss the BOJ governor and vice governors if both chambers of the Diet approve”
- “Amari is among the key Cabinet members on the Council on Economic and Fiscal Policy, an advisory panel that wielded great influence under past LDP-led governments. Sessions of the council are expected to be regularly attended by the BOJ governor, who is expected to be under constant government pressure to toe the party’s policy line.”
