TOKYO: Japan’s government has sounded out Bank of Japan (BOJ) Deputy Governor Masayoshi Amamiya to succeed incumbent Haruhiko Kuroda as central bank governor, the Nikkei newspaper reported early on Monday, citing anonymous government and ruling party sources.

The next BOJ chief will be tasked with putting the central bank on a path of normalising monetary policy aimed at achieving stable economic growth, Nikkei added.

The government has stepped up coordination with Japan’s ruling parties before finalising a proposal to present the nominees for the central bank’s next governor and its two deputy governors, the newspaper said.

Kuroda’s five-year term ends on April 8. Amamiya and Masazumi Wakatabe are currently serving as deputy governors, but their five-year terms end on March 19.

The nominations require approval from both chambers of parliament to take effect, which is essentially a done deal due to the ruling coalition’s solid majority in Diet.

Reuters