'No plan to backtrack on BoJ chief nominee’

TOKYO: Japanese prime minister Yasuo Fukuda said on Monday the government has no plan to change its candidate for the next head of the central bank despite a looming showdown with the opposition. Fukuda���s government nominated Bank of Japan deputy governor Toshiro Muto, a former finance ministry heavyweight, on Friday to take the helm of the central bank and steer Asia���s largest economy through the global credit crisis. ���We have submitted (the nomination) as we think it is the best choice,��� Fukuda told reporters on Monday.

A feud between Japan���s two largest political parties has raised fears in financial markets of a vacancy at the top of the central bank when current governor Toshihiko Fukui���s term ends on March 19.