"Some additional measures could be justified for 2013"
- Asian Development Bank President Haruhiko Kuroda
Asian Development Bank President Haruhiko Kuroda, who is a potential candidate to become the next Bank of Japan's governor, signalled his support for more aggressive stimulus measures by the BoJ in 2013. The latest announcement is adding to signs that Kuroda, who supports Shinzo Abe's ideas to implement more bold measures in order to end decades of deflation and boost growth, is likely to be nominated by Abe to succeed Masaaki Shirakawa and he should win confirmation in Parliament. Earlier this month, Masaaki Shirakawa, current BoJ governor, said he will step down on March 19, almost three weeks before his term was due.
"Some additional measures could be justified for 2013", Kuroda, 68, said in an interview in Tokyo today, stressing that he was speaking in his capacity as an economist and chief of the ADB, not as a BOJ contender. "Japan, along with other nations, has "really substantial room for monetary easing," he said.
"The identities of the new BOJ executives are of critical importance" to the policy outlook, Masayuki Kichikawa, chief Japan economist at Bank of America Merrill Lynch in Tokyo, wrote in a Feb. 8 note.
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