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Japan's lower house approves Shinsei Bank executive Masai to BOJ board

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TOKYO | Thursday, May 12 2016 IST
 
Japan's lower house of parliament gave its approval on Thursday for Takako Masai, an executive at Shinsei Bank Ltd and an advocate of aggressive monetary easing, to join the Bank of Japan's policy board.Masai, a 51-year-old executive officer of the Japanese commercial bank and an expert on currency markets, would replace former commercial banker Koji Ishida, who voted against the BOJ's decision in January to deploy negative interest rates.Ishida's five-year term expires on June 29.Masai's addition would give Governor Haruhiko Kuroda - who faced a razor-thin 5-4 vote in January - a firmer grip on board members if he were to expand monetary stimulus further.The move followed the appointment last month of academic and reflationist Makoto Sakurai to the BOJ's policy board, replacing Sayuri Shirai, another dissenter from the bank's decision to adopt negative rates.The government nominee looks set to be approved by the upper house on Friday, given the ruling coalition's solid majority in both houses of parliament. The nomination needs approval from both chambers.REUTERS AKC RAI0944

-- (Reuters) -- C-1-1-DL0432-728149.Xml

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