Japan Press Weekly

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2013 March 13 - 19 [POLITICS]

JCP disagrees with BOJ personnel affairs loyal to Abe

The Japanese Communist Party will contest the government nominees for Bank of Japan officials on the grounds that the three nominees, as BOJ Governor and Deputy Governors, are all committed to the monetary easing policy of Prime Minister Abe Shinzo.

Kokuta Keiji, chair of the JCP Diet Policy Commission, on March 13 informed reporters of the party’s intention.

He said that the selection of the three is unacceptable since the government nominated them after determining how faithful they are to the easy-money policy based on the fallacy that that policy will lead to a recovery of the economy.

Prime Minister Abe stated earlier that he chose persons who agree fully with his financial policy and who will decisively work to have it fully implemented.

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The Diet on March 15 approved by majority vote the personnel appointments for Governor and Deputy Governors of Bank of Japan as proposed by the government. The Japanese Communist Party disagreed with the proposed appointments at both chambers of the Diet.

The BOJ Governor-elect and the two Deputy Governors-elect are all faithful to Abe’s economic policy of providing an unlimited boost in money supply.

Governor Kuroda Haruhiko, the president of Asian Development Bank, expressed his determination to take every monetary easing measure to achieve the 2% inflation target, indicating his willingness to further expand the worn-out policy of money easing in obedience to the demand of the Abe Cabinet.