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Japan's parliament confirms Kuroda for 2nd term at central bank

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Japan's parliament confirms Kuroda for 2nd term at central bank

The Japanese parliament approved Prime Minister Shinzo Abe's nomination of Haruhiko Kuroda as the governor of the country's central bank for a second time, multiple media outlets reported.

The parliament also agreed to the two nominees for deputy governors at the Bank of Japan: Executive Director Masayoshi Amamiya and reflationist academic Masazumi Wakatabe. The appointments are expected to maintain the ultra-loose monetary policy as inflation remains far from the 2% target.

Some board members at the Bank of Japan recently called for closer monitoring of the monetary policy strategy as the bank held its short-term interest rates at negative 0.1% and the 10-year government bond yields around zero percent on March 9.

Kuroda, who has overseen the world's most aggressive monetary stimulus, took the helm at the central bank in March 2013 and will become the longest-serving BOJ chief at the end of his second five-year term.

The yen rose 0.6% to $105.70 as of 8:55 a.m. ET.