Japan fails to name central bank leader

TOKYO, March 17 (UPI) -- The Japanese government failed to name a candidate for governor of the Bank of Japan Monday, two days before the current bank governor is set to depart.

While global economies fall deeper into crisis, the Japanese stock market fell 3.71 percent Monday and the yen gained strength against the dollar, making Japanese exports more expensive.

Bank of Japan Gov. Toshihiko Fukui is scheduled to retire Wednesday.

Japanese Prime Minister Yasuo Fukuda met with leaders of the ruling Liberal Democratic Party Monday behind closed doors to discuss the situation but no obvious candidate emerged, The Wall Street Journal reported.

The opposition party, in control of the upper house of parliament, voted down the candidacy of bank Deputy Gov. Toshiro Muto last week.

Fukuda said he was "making adjustments" and would try to get a new candidate named "as soon as possible."

In an editorial, Asahi Shimbun, a major daily newspaper, called for "courage and decisiveness on the part of the prime minister" to name a candidate soon.