The Japanese government has announced its decision to nominate Haruhiko Kuroda for the post of the head of the country's central bank.

Mr. Kuroda is known for his backing for a more aggressive stimulus for the struggling Japanese economy. It was widely expected that the government will nominate Mr. Kuroda because his views of turning around the economy is in line with the stand taken by Prime Minster Shinzo Abe. Mr. Kuroda is presently working as the head of the Asian Development Bank.

Senior government spokesman, Yoshihide Suga, said at a news conference that, "The nominees announced today will lead the charge in the bold financial policies that Prime Minister Abe aims for, and his economic growth strategy that has now been dubbed `Abenomics,'."

Mr. Kuroda had earlier said that the Bank of Japan has not taken enough measures to boost the struggling Japanese economy. His views are mostly in line with that of Mr. Abe, who has been suggesting more aggressive monetary easing, higher stimulus spending and faster economic reforms.

Bank of Japan (BOJ) is facing pressure from the new government of Prime Minister Shinzo Abe to show to the market players that it is willing to take bold steps to ease monetary situation in the country. Abe is looking to appoint the new governor of the central bank and agreement on the policy of pursuing further monetary easing is a major requirement.