TOKYO (MNI) – The opposition-controlled upper house of parliament
has rejected the nomination of private-sector economist Ryutaro Kono to
the Bank of Japan board, a parliamentary official said on Thursday.
BOJ policymaker appointments need the approval of both houses of
the Diet.
Kono’s rejection means two posts on the BOJ’s nine-member policy
board remain vacant for now.
In March 2008, political wrangling between the government and the
opposition camp in parliament forced the BOJ’s new leadership to start
without a permanent governor. There were also two vacancies on the board
at the time.
Last month the government nominated Kono, chief economist at BNP
Paribas in Tokyo, as a candidate to succeed BOJ board member Seiji
Nakamura, a former shipping firm executive whose five-year term ended
on Wednesday.
The government hasn’t nominated a candidate for filling the post
left open by Hidetoshi Kamezaki, who came from a trading firm and also
left the BOJ board at the end of his five-year term on Wednesday.
tokyo@marketnews.com
** MNI Tokyo Newsroom: 81-3-5403-4833 **
[TOPICS: M$J$$$,M$A$$$,MMJBJ$,MGJ$$$]
