TOKYO, March 19: Japan will be without a central bank chief for the first time in more than 80 years on Thursday after lawmakers failed to settle a row before governor Toshihiko Fukui bowed out amid global market turmoil.
The vacancy at the top of the Bank of Japan (BoJ) comes as the world’s central banks are working to contain the fallout of the credit crunch and worsening world economy.
“It is disappointing that I do not have a successor because it is extremely unusual when you look at history,” Fukui told a farewell press conference hours before his five-year term was due to end at midnight (1500 GMT).
The power vacuum, which comes after the opposition Wednesday voted down the latest government nominee for the job, will be the first since 1923.
Fukui said Masaaki Shirakawa -- a professor and former BoJ executive director who has been approved as one of the two new deputies -- would become acting governor until a permanent replacement is appointed.—AFP
