Haruhiko Kuroda

Haruhiko Kuroda Net Worth

Haruhiko Kuroda is the Governor of the Bank of Japan and has been in this role for four years. He has implemented a number of policies to boost inflation, including negative interest rates, and is currently rolling out a new policy to control long-term rates. Despite inflation remaining below his 2% target, economists and analysts continue to watch his words closely.

Age, Biography and Wiki

Who is it? Governor, Bank of Japan, Japan
Birth Day October 25, 1944
Birth Place Japan
Age 79 YEARS OLD
Birth Sign Scorpio
Prime Minister Junichirō Koizumi
Deputy Kikuo Iwata Hiroshi Nakaso
Preceded by Eisuke Sakakibara
Succeeded by Zenbee Mizoguchi
Spouse(s) Kumiko Kuroda
Children 2
Alma mater University of Tokyo All Souls College, Oxford

💰 Net worth

Haruhiko Kuroda, renowned as the Governor of the Bank of Japan, Japan, is predicted to have a net worth ranging from $100K to $1M by 2024. As a prominent figure in the banking sector, Kuroda has garnered significant wealth throughout his career. With his expertise and extensive experience in shaping Japan's monetary policy, Kuroda has made remarkable contributions towards the country's economy and financial stability. His estimated net worth reflects his esteemed position and the influence he wields in the field of central banking in Japan.

Biography/Timeline

1963

Kuroda attended the University of Tokyo from 1963 to 1967, where he studied law and passed the bar examination before graduation. He joined the Ministry of Finance following graduation, and studied economics at Oxford University on a Japanese government scholarship from 1969 to 1971. He went on to hold various posts at the Ministry of Finance, culminating in the post of Vice Minister of Finance for International Affairs (1999-2003). He resigned from the ministry in January 2003 and was appointed Special Advisor to the Cabinet in March 2003. From 2005 to 2013, he served as President of the Asian Development Bank.

2013

"There is plenty of room for monetary easing" in Japan, Kuroda said in a February 2013 interview, adding that the BOJ could go beyond purchasing government bonds to include corporate bonds "or even stocks". The yen, which "has fallen 10% against the dollar since Abe began his campaign in November", also fell on the news of Kuroda's nomination. However, the new governor is "expected to use his experience as Japan’s top currency official until 2003 to rebut overseas criticism that Tokyo is using easy monetary policy to drive the yen lower, triggering a war of competitive currency devaluation". Bloomberg quoted Stephen Roach, a senior fellow at Yale University, as saying about Kuroda's goals: “It’s a strong pledge from a well-intended man, but I’m not convinced it’s going to work." When Kuroda was asked the same question in his assumption of office's press conference on March 21, Kuroda said the BOJ's role is to stabilize prices, and stabilizing exchange rates is the role of the Ministry of Finance. He also said that BOJ's "Quantitative and Qualitative Monetary Easing" policy does not intend to devalue, aiming to grow out of deflation by targeting inflation. Although there was opposition from developing countries, the policy was accepted by the other developed countries in the G20 summit. However, G20 members emphasized to Japanese policymakers that it must be used domestically while highlighting the importance of a Japanese effort to reduce government debt.

2016

In early 2016 after a stretch of global market weakness, Kuroda led Japan's move into negative interest rates. The BOJ had already pushed its balance sheet from 35% to 70+% of GDP since 2013 and was continuing to buy ¥80 trillion (over $600 billion) of securities each month. “Risks were growing that the slowdown in the Chinese, emerging and resource-producing countries, which has caused volatility and instability in financial markets since the beginning of the year, may hurt confidence among domestic [Japanese] companies,” Kuroda was quoted as saying at the time of the interest-rate cut.

About the author

Lisa Scholfield

As a Senior Writer at Famous Net Worth, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.