Asia's Pacific

LDP Rejection of Bank of Japan Nominee Adds Pressure

Japan’s biggest opposition party said it will reject Prime Minister Yoshihiko Noda’s central bank nominee as lawmakers press for a more aggressive monetary policy to spur growth and end deflation.

Liberal Democratic Party officials agreed yesterday to oppose BNP Paribas SA economist Ryutaro Kono joining the policy board, said Fumio Kishida, head of the party’s Diet affairs committee. LDP lawmaker Tsuruho Yousuke today said the nomination will be voted on tomorrow in the upper house, where Noda’s Democratic Party of Japan lacks a majority. Full story