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BoJ row escalates as opposition blocks candidate PDF Print E-mail
Friday, 14 March 2008

Agence France-Presse . Tokyo

Deadlock over Japan’s next central bank chief deepened Wednesday as the opposition voted down deputy Toshiro Muto, but the government refused to yield a week before the post falls vacant.

The standoff makes it increasingly likely that the central bank of the world’s second-largest economy will be run by a caretaker governor after outgoing chief Toshihiko Fukui steps down on March 19.

‘It’s complete gridlock at the moment. It’s very hard to see how this will be resolved and whether it’s going to be resolved in time or not,’ said Lehman Brothers economist Hiroshi Shiraishi.

A vacancy would come as the world’s major central banks try to stave off further financial market turmoil caused by the US subprime loan crisis.

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