The reported appointment of well-known monetary reflationist Yasushi Harada to the Bank of Japan (BOJ) board has ignited fresh speculation of more easing from the central bank.
“This looks like a piece of good news for those expecting additional easing actions by the BOJ,” said Credit Suisse economist Hiromichi Shirakawa in a note. Harada is a “well known as a monetary reflationist;” if he joins the nine-member BOJ board, “Governor Haruhiko Kuroda is likely to be able to continue to secure at least five votes for an easing action.”
Prime Minister Shinzo Abe’s government will nominate Harada, a Waseda University economist, to replace fellow dove Ryuzo Miyao, who will step down when his term ends on March 25, the Nikkei reported without citing sources.
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