No Honeymoon for Japan’s New Central Banker
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March 1 (Bloomberg) -- As president of the Manila-basedAsian Development Bank, Haruhiko Kuroda spent the past sevenyears confronting the challenges posed by 48 diverse, dynamicand complex Asia-Pacific economies. If he thought that was hardwork, consider what awaits him in Tokyo as he prepares to leadthe Bank of Japan.
Kuroda, 68, can forget about a honeymoon period to get hisbearings in a city he has lived away from since 2005. Marketsare fed up with Japan’s lost decades, a period characterized bydeflation, the hollowing-out of industry and a politicalrevolving door that has spat out 16 prime ministers since 1990.They want decisive and immediate action.