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News Summary: Kuroda seen heading Bank of Japan

The Associated Press

REPORTEDLY KURODA: Prime Minister Shinzo Abe is reportedly preparing to nominate Asian Development Bank President Haruhiko Kuroda to head Japan's central bank.

BANK CRITIC: Kuroda has been critical of the central bank's policies in the past and is thought to back Abe's strategies for seeking to revive Japan's economy by fighting deflation through monetary easing and hefty government spending

NOMINATION THIS WEEK: The current Bank of Japan governor, Masaaki Shirakawa, will step down on March 19. There is no official decision on a candidate yet, but Abe intends to formally propose Shirakawa's replacement to parliament this week, a government spokesman said.