Across Asia: Japan

BOJ nominee vetoed

Opposition lawmakers vetoed the Japanese government's pick for central bank governor yesterday, leaving the Bank of Japan (BOJ) in the middle of the global credit crisis with no successor to Governor Toshihiko Fukui one week before he retires.

The rejection of current deputy governor Toshiro Muto threatens a monetary policy vacuum in Japan at a time when central banks are working together to ease the crisis, including concerted action on Tuesday to inject hundreds of billions of dollars into credit markets.