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Who’s The New BOJ Governor?
Overnight, there was considerable movement in the USDJPY with rampant press speculation over who would be nominated as the next governor of the BOJ. There has been a lot of anticipation about the announcement, since the new governor is expected to provide a new direction for the bank. Remember that the current governor, Haruhiko Kuroda, is expected to step down in April at the end of his term (implying just one more meeting under his leadership). Kuroda, of course, has been a perpetual dove, keeping rates in the negative for his entire tenure, with extraordinary easing in an effort to get organic inflation to rise. ... (full story)