TOKYO - The Japanese government on Monday nominated Masaaki Shirakawa, acting governor of the Bank of Japan (BOJ), as the central bank's new chief.
Meanwhile, Hiroshi Watanabe, a former vice finance minister for international affairs, was named as one of the two BOJ deputy governors.
If Shirakawa's nomination manages to gain endorsement from both Diet chambers, BOJ's leadership vacuum at a time of global financial turbulence will be ended.
The post of the BOJ governor has fallen vacant for the first time in Japan since the end of World War II as the opposition-dominated upper house of the Diet imposed a second veto against the government's nomination of Koji Tanami on March 19 following its rejection of Toshiro Muto a week before due to the row between the ruling and opposition camps.
Hirakawa, who currently serves as one of the bank's two deputy governors along with Kiyohiko Nishimura, is expected to be backed by the upper house as his candidacy as BOJ's deputy was approved by both chambers last month.