The acting governor of the Bank of Japan, Masaaki Shirakawa, has chaired his first interest rate-setting meeting since assuming the post in March.

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Japan keeps interest rates level ... both houses of parliament as the government's latest choice to take the top job permanently at the central bank.

Interest rates are likely to be kept unchanged at 0.5% when the decision is announced on Wednesday.

Mr Shirakawa's nomination is expected to be approved the same day.

The government's two previous nominations were rejected by the opposition-controlled upper house of parliament, which claimed they were not independent enough.

Mr Shirakawa took over as acting governor when Toshihiko Fukui retired on 19 March and the government nominated him for the post of governor on Tuesday. The main opposition party has indicated its support for him.

The government is keen to get its candidate approved so it has a central bank governor to send to the G7 meeting at the weekend.

(BBC)

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