Masaaki Shirakawa, the nominee for governor of the Bank of Japan, raises his hand as he delivers a policy speech during the hearings at the Upper House of Parliament in Tokyo April 8, 2008. (Xinhua/Reuters Photo) Photo Gallery>>>

    TOKYO, April 9 (Xinhua) -- Japan's opposition-led House of Councilors voted Wednesday by 231 to seven in favor of the government's nomination of Masaaki Shirakawa, acting chief of Bank of Japan (BOJ), as BOJ's governor.

    The decision is set to end the three-week leadership vacuum at the central bank as the House of Representatives, where Prime Minister Yasuo Fukuda's ruling bloc commands a majority, is expected to endorse Shirakawa's appointment later in the day.

    At the plenary session, the upper house rejected, by 121 votes to 115, the candidacy of Hiroshi Watanabe, a former vice finance minister for international affairs, for the post of the central bank's deputy chief.

    Three legislators from the main opposition Democratic Party of Japan (DPJ) voted at the session for Watanabe's nomination though the DPJ decided late Tuesday to vote down Watanabe's nomination, citing his career background as former senior government finance official, which could hurt the central bank's independence from the government in monetary policy-making.

    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 ago due to the row between the ruling and opposition camps.

Masaaki Shirakawa (L), the nominee for governor of the Bank of Japan (BOJ), and Hiroshi Watanabe (R, rear), the nominee for deputy governor of the BOJ, are escorted by security guards after hearings at the Upper House of Parliament in Tokyo April 8, 2008. (Xinhua/Reuters Photo) Photo Gallery>>>

Shirakawa pledges commitment to duties as Japan's central bank chief

    TOKYO, April 8 (Xinhua) -- Masaaki Shirakawa, nominee for governor of Bank of Japan (BOJ), on Tuesday pledged to fulfill the duties as BOJ chief, while urging an early end to its leadership vacuum.

    Addressing the House of Representatives, Shirakawa said that the issue of the leadership vacuum must be resolved swiftly.   Full story

Japan's upper house rejects Tanami as new BOJ chief

    TOKYO, March 19 (Xinhua) -- Japan's opposition-led upper house voted Wednesday by 125 to 112 to reject the government's nomination of Koji Tanami, the former vice finance minister, as the next governor of the Bank of Japan (BOJ).

    The post of the BOJ governor has thus fallen vacant for the first time in Japan since the end of World War II as the five-year tenure of incumbent Governor Toshihiko Fukui and his two deputies expires Wednesday.  Full story