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Haruhiko Kuroda named as BOJ governor

  • Japan's parliament approved Haruhiko Kuroda to take over as governor of the Bank of Japan on Friday.

    Kuroda, who is leaving his current job as president of the Asian Development Bank, is expected to push for monetary stimulus in an effort to spur growth in the world's third-biggest economy.

    The upper house cleared Kuroda after he won approval from the lower house on Thursday.

    The upper house also approved the appointment of Kikuo Iwata and Hiroshi Nakaso as deputies.

    New Prime Minister Shinzo Abe, who has pledged to lift Japan’s economy out of its prolonged slump, nominated all three.

    In recent months, the Japanese economy has been showing positive signs with economy expanding slightly in the last quarter of 2012 as the country emerged from its latest recession.

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