Gov't Sounds Out Masayoshi Amamiya To Head BOJ

Japan's government has approached Bank of Japan (BOJ) Deputy Gov. Masayoshi Amamiya as a possible successor to central bank chief Haruhiko Kuroda, people familiar with the matter said, Nikkei Asia reported.

Photo Insert: Deputy Gov. Masayoshi Amamiya has been the brains behind many of the policies pursued by the BOJ in the past two decades.

Amamiya has been the brains behind many of the policies pursued by the BOJ in the past two decades.

In the event Amamiya takes over the post currently occupied by Kuroda, it will mark the first change of leadership at the BOJ in a decade.

Amamiya, 67, will inherit a BOJ policy regime largely criticized by the Japanese themselves, with low interest rates fueling borrowings, a low yen value triggering higher exports but increasing the value of imports needed to make products for the export market and higher inflation not encouraging consumption.

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