Japanese gov't proposes Kuroda as new BOJ governor

TOKYO, Feb. 28 (Xinhua) -- The Japanese government Thursday proposed to the parliament the appointment of Haruhiko Kuroda, president of the Asian Development Bank, as new governor of the Bank of Japan (BOJ).

The government also nominated the 70-year-old Gakushuin University professor Kikuo Iwata and the BOJ Executive Director Hiroshi Nakaso, 59, as deputy governors of the Japanese central bank.

The appointment must be approved by both chambers of the Diet and the government is seeking to hold a vote on the nominations on March 14 in the lower house and March 15 in the upper house.

Kuroda, 68, advocates bold monetary easing policy and served as vice financial minister for international affairs for more than three years since 1990.

Both Kuroda and Iwata said they supported the two percent inflation target introduced by the central bank, adding the goal should be achieved in about two years.

The current BOJ governor Masaaki Shirakawa announced earlier this month that he will step down along with his deputies before his five-year term expires on April 8.

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