Japan's major opposition party on Tuesday decided to reject the nomination of Koji Tanami, governor of the Japan Bank for International Cooperation (JBIC), as the new governor of the Bank of Japan (BOJ).
The decision came after a high-level meeting of the Democratic Party of Japan (DPJ), increasing the probability of the ruling camp's nomination of Tanami being blocked for a second time at the opposition-led upper chamber of the Diet.
The DPJ, however, decided at the meeting to back Nishimura's nomination as one of the two deputy governors of the central bank.
Earlier on Tuesday, the government nominated Tanami as the next BOJ governor and Kiyohiko Nishimura, who is on the BOJ's Policy Board, as one of his two deputies.
If Tanami and Nishimura fail to win Diet approval by Wednesday when the five-year tenure of the current BOJ governor, Toshihiko Fukui, and his two deputies expires, Masaaki Shirakawa, a former BOJ executive director, is expected to serve as acting BOJ chief.
Last Wednesday, the upper chamber voted by 129 to 106 to block Muto's nomination. But it approved the nomination of Masaaki Shirakawa as one of the central bank's two deputy governors, while rejecting that of Takatoshi Ito, a University of Tokyo professor, as the other.
The next day the House of Representatives, the lower house controlled by the ruling coalition, endorsed all three nominations.
Source: Xinhua
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