Next BoJ head needs English skills, says Japan minister
TOKYO: Japanese Finance Minister Taro Aso says the next central bank governor will need English skills to deal with global financial issues, an endorsement of media reports incumbent Haruhiko Kuroda will be reappointed for a rare second term.
Prime Minister Shinzo Abe said he hasn’t decided yet who to pick as next Bank of Japan (BoJ) governor, but re- buffed calls from an opposition lawmaker to replace Kuroda given the pain the BoJ’s negative interest rate policy was inflicting on banks.
“Surveys show banks’ lending attitudes to small- and mediumsized firms remain healthy even after the introduction of negative rates,” said Abe yesterday. “I expect the BoJ to continue to take bold steps to achieve price stability in response to movements in prices and the economy,” he said.
Aso told the same parliamentary committee that speaking fluent English was a “very important condition” to head the BoJ, as well as communication skills to explain monetary policy and the stamina to travel overseas.
Media reports said the government had decided to nominate Kuroda for another five-year term as BoJ head when his current one expires in April.