Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 9, 2008 7:51:17 AM CDT

Learn about Newser Points »

Back to the grid

Opposition Finally Backs New Chief for Bank of Japan

Posted Apr 9, 08 2:45 AM CDT in World,  Business    Most Covered

(Newser) – The Democratic Party of Japan has accepted a new central banker just in time for the crucial meeting of G7 finance leaders in Washington on Friday, reports the International Business Times. The top spot has been vacant since March 19, leaving the bank vulnerable during an unsteady economic time. Masaaki Shirakawa is expected to be formally nominated today as Bank of Japan chief.

Opposition politicians rejected the prime minister’s first two nominees for the position. Shirakawa, one of the bank’s deputy governors, said he planned to reclaim credibility for the BOJ. He attributed Japan’s sinking economy to “soaring fuel and materials prices” and the weakening global economy.

Source International Business Times

Related News

  • Japan's Inflation Surges

    Mar 28, 08 8:58 AM CDT
    Japan's Inflation Surges A double whammy of rising inflation and unemployment has experts worried that Japan’s economy—the world’s second largest—is fast losing steam, reports the Wall Street Journal. Inflation in February rose 1%, its fastest spike in a decade, and household spending stalled in the face of rising food and oil prices. More »

  • Japan Faces Credit Crisis With No Central Bank Governor

    Mar 21, 08 9:58 AM CDT
    Japan Faces Credit Crisis With No Central Bank Governor When markets are in chaos and currencies are fluctuating wildly, central bankers jump in to try to provide stability, as Ben Bernanke has done at the Fed. But in Tokyo a political standoff has left the Bank of Japan without a leader at the worst possible moment, reports the AFP. If MPs can't agree on a BoJ governor soon, the world's second-largest economy could face a serious crisis. More »

  • Looking for a Real Recession? Try Japan

    Feb 2, 08 3:18 PM CST
    Looking for a Real Recession? Try Japan While economists squabble over a possible US recession, Japan has quietly slipped into one. The country’s postwar riches have all but vanished, the Washington Post reports, as its GDP tumbles from fourth to twentieth among the world’s countries and its share of the world’s economy dips from 18% in 1994 to below 10% in 2006. More »

  • Japanese Opposition Leader Un-Quits

    Nov 6, 07 12:20 PM CST
    Japanese Opposition Leader Un-Quits The leader of Japan's opposition party has withdrawn his resignation after 2 days of wrangling in the country's latest political crisis, Bloomberg reports. "This is truly embarrassing," a party official quoted Ichiro Ozawa as saying. The Democratic Party of Japan had asked Ozawa to reconsider, fearing a split in the party and a weak election showing. More »

  • Japanese Party Scrambles to Keep Boss to Dodge Chaos

    Nov 5, 07 2:30 AM CST
    Japanese Party Scrambles to Keep Boss to Dodge Chaos Members of Japan's opposition party are pleading with their leader to rethink his announced resignation, fearing the move will break up the party and hurt its chances at the polls. The head of the Democratic Party of Japan said he would resign yesterday after the party leadership resoundingly voted to reject a power-sharing alliance he had brokered with the ruling Liberal Democratic Party. More »

Masaaki Shirakawa delivers his policy speech for his nomination during the hearing at the House of Representatives of the Diet in Tokyo Tuesday, April 8, 2008.   (AP Photo/Toshifumi Kitamura)
Masaaki Shirakawa, a former Bank of Japan executive director, speaks before the Upper House hearing in Tokyo Tuesday, April 8, 2008.   (AP Photo/Koji Sasahara)
Masaaki Shirakawa, a former Bank of Japan executive director, speaks before the Upper House hearing in Tokyo Tuesday, April 8, 2008.   (AP Photo/Koji Sasahara)
prev    next
play

Threads (1 of 3)

Tags

Japan  • credit crisis  • Yasuo Fukuda  • Tokyo  • Japanese economy  • Democratic Party of Japan  • Bank of Japan


Loading...

Loading...

Related Threads: Japan, Credit Market Chaos

Next story from this section »

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »