Haruhiko Kuroda - Governor of the Bank of Japan

For more than fifteen years, the Japanese economy has been struggling with deflationary processes. Monetary authorities do not stay aside and play a key role in this struggle, although they do not always agree on the methods of solving the problem with the authorities of the country. At the moment Japan is on the path of "Abenomics"The current one is also an adherent of the Bank of Japan Governor Haruhiko Kuroda.

Haruhiko Kuroda - Governor of the Bank of Japan
Haruhiko Kuroda - Governor of the Bank of Japan

Haruhiko Kuroda (Haruhiko Kuroda) was born on October 25, 1944. He received a bachelor's degree in law from the University of Tokyo in 1967 and a master's degree in philosophy and economics from Oxford University in 1971. In April 1967, Kuroda was hired by the... Ministry of Finance of JapanHe worked there until 2005, where he worked his way up, as they say, from a mere employee to Deputy Minister of Finance for International Affairs and Special Advisor to the Cabinet of Ministers of Japan.

Haruhiko Kuroda was elected in February 2005 President of the Asian Development Bank (ADB) and held that position until he was appointed head Bank of Japan in March 2013. Under Kuroda's leadership, the capital base of the Asian Development Bank was tripled from $55 billion to $165 billion, a new long-term strategy was adopted, and the strategic path to 2020 was optimized. Haruhiko Kuroda also reoriented ADB's operational agenda toward environmentally sustainable inclusive economic growth, regional cooperation, and integration processes.

At the head of the Bank of Japan

After the Liberal Democratic Party won the elections in Japan and Prime Minister Shinzo Abe took office, Haruhiko Kuroda officially took office as Governor of the Bank of Japan on March 19, 2013. It is worth noting that Kuroda succeeded in this position Masaaki Shirakawawho, because of his disagreement with Shinzo Abe's proposed methods of fighting the war on terror. by deflationresigned three weeks early.

Haruhkio Kuroda, in turn, is a critic of the actions of the Central Bank of Japan and an ardent supporter of the so-called "Abenomics", the methods of which are aggressive quantitative easing. As Japan's Finance Minister Akira Amari stated, Haruhiko Kuroda has a clearer understanding of the goals of "Abenomics" and how to achieve them.

Incoming Bank of Japan Governor Haruhiko Kuroda said he would make every effort to achieve the target level Inflation 2% during the biennium.

Haruhiko Kuroda - Governor of the Bank of Japan
Haruhiko Kuroda - Governor of the Bank of Japan

Under the leadership of Haruhiko Kuroda, the Bank of Japan began to implement a policy of increasing asset purchases both quantitatively and qualitatively, focusing not only on short-term debt, but also on long-term debt (up to 40 years). Haruhiko Kuroda also set a goal of increasing the circulating money supply from 138 trillion yen to 270 trillion yen by 2015.

It's worth noting that under the leadership of Haruhiko Kuroda. The Bank of Japan has abolished the so-called "banknote rule"When the volume of assets purchased by the regulator cannot exceed the amount of money in circulation. According to a number of financial experts, such an approach increases the risks of fiscal discipline, as Japan's public debt exceeds 200% GDP, and Kuroda himself called this level "unstable".

Haruhiko Kuroda's activity as the head of the Bank of Japan has a significant difference from the activity of other chairmen of the world central banks. If the heads of the Fed, the ECB, the Bank of England and others of the world's largest central banks are independent of the political leadership, the Bank of Japan and its Governor Haruhiko Kuroda are essentially an instrument of the "Abenomics" course pursued by the Japanese authorities.

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