Week in FX Asia – Kuroda Nominated to BoJ Governor

Japanese Prime Minister Shinzo Abe nominated Asian Development Bank President Haruhiko Kuroda to lead the Bank of Japan. Kuroda has previously stated when he was in the running for the nomination that the 2 percent inflation target set by Abe was realistic and could be achieved in a 2 year timespan. Kuroda is a proponent of aggressive monetary easing, and will likely be an important ally of Prime Minister Abe in his attempts to kick-start the anemic Japanese economy

Kikuo Iwata, a professor at Tokyo’s Gakushuin University and BOJ Executive Director Hiroshi Nakaso were nominated for the two deputy governor positions. Current Governor Masaaki Shirakawa and his deputies will step down on March 19.

• USD/JPY – Yen Steady as Abe Chooses New BOJ Governor
• Haruhiko Kuroda nominated as Bank of Japan Governor
• CNY Yuan Passes Ruble in World Payments
• JPY Consumer Prices Fall for Third Month in Japan
• South-East Asian Bonds Seek 8 Straight Year Record High
• India face ‘more than likely” Risk of Downgrade
• Indonesian Inflation Rising – Rate Cut by Central Bank Unlikely
• India to Increase Public Spending and Tax Rich in 2013
• Japan’s Industrial Production Rises for a Second Month
• Malaysia Setting Tighter Ringgit Fixing Rules Against Manipulation
• AUD Held by up to 34 Central Banks Globally
• South Korean firms bullish about economy
• Think-tank forecast 8% GDP growth in Q1 for China
• Hong Kong Doubled Stamp Duty push Property Sales lower
• Chinese Households Forecast Inflation Rise
• Zhou Stays at PBOC as China reshuffles Government

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