facebook
twitter
search
search

Two, not one, to lead Bank of Japan

March 21, 2008 at 4:11 PM

TOKYO, March 21 (UPI) -- The Japanese government failed to appoint a new Bank of Japan governor, awarding the job of running the bank to two new deputy governors appointed Friday.

Tokyo gave Masaaki Shirakawa, executive director between 2002 and 2006, the job of running the bank's day to day operations. The Japanese Parliament also agreed to appoint Kiyohiko Nishimura to a deputy governor position, leaving the governor's position unfilled.

Prime Minister Yasuo Fukuda said the 5-year appointments were made during an economic period "rocked by turbulence," Kyodo News reported.

It is the first time the job of governor of the Bank of Japan has been vacant since the end of World War II, the report said.

At a press conference, Finance Minister Fukushiro Nukaga said the vacancy should be kept to a "minimum."

"I believe the selection process should be based on the candidate's capabilities,'' he said, alluding to the political turmoil that failed to select a candidate.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
First U.S.-made Kalashnikov AK-47s now being sold
More than $1B in new orders for Saab
Australian Air Force receives first C-27J transport
Judge throws out GM shareholder ignition-switch lawsuit
Sea-based radar market tipped to grow over 10 years