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Forex Flash: Japanese policy shakeup at BoJ stonewalled – Deutsche Bank

In Japan, “the PM's push for a new governor to lead a policy shake up at the BoJ has run into resistance from his own cabinet.” notes Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank. A recent report suggests that members of Abe's government prefer former deputy BoJ governor Toshiro Muto, who advocates more asset purchases but has also warned that excessive financing of public debt could backfire through a rise in bond yields.

Meanwhile, PM Abe prefers Asian Development Bank President Haruhiko Huroda who has been a sharp critic of the outgoing BoJ governor's policies (Reuters). The article cites a source close to Abe as saying that the final choice of BoJ governor "will be a close call with a lot of complexities involved".

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