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  • a1tsu23shi a1tsu23shi Mar 15, 2013 9:23 AM Flag

    Yen will be weaker and weaker, cuz new Bank of Japan management will start next week.

    Japan Confirms Three Doves To Run The Bank Of Japan
    Haruhiko Kuroda, Japan's parliament on Friday approved a new central bank management team that is widely expected to support the government's demands for more action to stoke the world's third-biggest economy.
    The upper house gave the green light to Haruhiko Kuroda as Bank of Japan governor, with the finance veteran and long-time BoJ critic seen as likely to launch aggressive monetary easing measures, after his predecessor drew heavy criticism for failing to turn around Japan's fortunes.
    Lawmakers also approved the nominations of Kikuo Iwata and Hiroshi Nakaso as Kuroda's deputies, with all three clearing the vote hurdle with comfortable margins.
    Japan's leading opposition party had warned it would vote against Iwata -- a strong supporter of monetary easing and of giving Tokyo more control over the independent BoJ -- but his nomination passed by a count of 124 votes in favour with 96 votes against.
    The BoJ's new management team, which was approved by the lower house on Thursday, is expected to take up their positions next week.

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30.21+0.21(+0.70%)Jul 22 4:02 PMEDT