Asian Development Bank President Gives 2 year Timeline for Japan 2 Percent Inflation Target

Asian Development Bank President Haruhiko Kuroda said two years was an appropriate time frame for the Bank of Japan to meet its new inflation goal, but declined to comment on whether he was in the running to take over at the central bank next month.

Kuroda, considered a strong candidate to replace BOJ Governor Masaaki Shirakawa when he steps down next month, told reporters on Monday he is happy with his current position and still has about four years left in his term at the ADB.

“I’m very satisfied with my current job and can’t make any other comments,” said Kuroda, who was in Tokyo for a seminar.

“I cannot respond to hypothetical questions,” he said when asked what he would do if Prime Minister Shinzo Abe offered him the top post at the BOJ.

Abe is set to nominate a new BOJ governor and two deputies in coming weeks, and has made it clear he wants someone who will take bolder steps than Shirakawa has to revive the economy.

But his push for a governor who will pursue radical policy is meeting resistance from his cabinet and bureaucrats, who are wary of triggering market turmoil.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.