TOKYO, May 16 — Japan needs a faster “third arrow” growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian firms aiming to go green, said Hiroshi Nakaso, considered a front-runner to be the country’s next central bank chief.
“Abenomics was the right prescription to revitalise Japan’s economy. But there was too much burden laid upon the first two arrows,” particularly on monetary policy, he told Reuters on Friday. Nakaso is thought by insiders and BOJ watchers to be a strong candidate to succeed BOJ Governor Haruhiko Kuroda when his term ends next April. He is chairman of the Organisation of Global Financial City Tokyo, a group of public and private entities working to raise Tokyo’s profile as a financial hub.
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