Japan’s Diet, or parliament, rejected the government’s pick for central bank chief. The opposition-controlled upper house argued that longtime bureaucrat Toshiro Muto, currently the Bank of Japan’s deputy governor, was too connected in the government to ensure the central bank’s independence. Current bank governor Toshihiko Fukui steps down March 19. (AP in Yahoo! Finance)
The bottom line
March 12, 2008
Try 4 Risk-Free Issues of The Week magazine.
of The Week magazine.