Kuroda to have one more dove in BOJ roost

Masayoshi Amamiya, the head of the Bank of Japan (8301)’s Osaka branch, has returned to Tokyo after only a year to oversee policy planning at the central bank, adding to a leadership reshuffle under incoming governor Haruhiko Kuroda.

Amamiya, 57, takes up his new job as executive director in charge of policy planning today, the BOJ said in a statement in Tokyo. Shigeki Kushida takes over as Osaka branch head.

The return of Amamiya, who led the BOJ’s monetary affairs department when the bank adopted a 1 percent inflation goal last year, may help Kuroda engineer a shift toward a more aggressive monetary policy stance. With current Governor Masaaki Shirakawa set to step down with his two deputies tomorrow, JPMorgan Chase & Co and Barclays Plc expect the BOJ to add stimulus as soon as the next policy meeting on April 3-4.

“Amamiya is known for his willingness for more easing, especially buying more bonds,” Shirakawa said, adding that it is unusual for a branch manager to return to Tokyo after only one year.

Kuroda, who said last week he wants to discuss easing “soon,” has repeatedly said that monetary policy alone can end the deflation that has afflicted the world’s third-largest economy for 15 years.

Bloomberg

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