Shinzo Abe

Bank of Japan Gov. Haruhiko Kuroda set to serve 2nd term

Bank of Japan Gov. Haruhiko Kuroda was nominated Friday to serve a second five-year term as the head of the central bank.

The proposal Friday to a parliamentary committee was expected to gain approval before Kuroda's term expires at the end of March. It was made along with a batch of government appointments and re-appointments proposed by the government.

A finance ministry veteran, Kuroda has spearheaded an effort to spur growth through what he has called a "big bazooka" of monetary stimulus.

Prime Minister Shinzo Abe has relied heavily on Kuroda's deflation-fighting strategy of massive asset purchases by the central bank.

The effort has helped Japan...