Japanese Prime Minister Shinzo Abe speaks to the reporters after meeting with Finance Minister Taro Aso, Economics Minister Akira Amari and Bank of Japan Gov. Masaaki Shirakawa, at the prime minister's official residence in Tokyo, Tuesday, Jan. 22, 2013. Japan's Prime Minister Abe declared a "monetary regime change" Tuesday as the central bank bowed to government pressure, setting a 2 percent inflation target aimed at helping the country emerge from its prolonged bout of deflation. (AP Photo/Koji Sasahara)
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Japanese Prime Minister Shinzo Abe speaks to the reporters after meeting with Finance Minister Taro Aso, Economics Minister Akira Amari and Bank of Japan Gov. Masaaki Shirakawa, at the prime minister's official residence in Tokyo, Tuesday, Jan. 22, 2013. Japan's Prime Minister Abe declared a "monetary regime change" Tuesday as the central bank bowed to government pressure, setting a 2 percent inflation target aimed at helping the country emerge from its prolonged bout of deflation. (AP Photo/Koji Sasahara)
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Japanese Prime Minister Shinzo Abe speaks to the reporters after meeting with Finance Minister Taro Aso, Economics Minister Akira Amari and Bank of Japan Gov. Masaaki Shirakawa, at the prime minister's official residence in Tokyo, Tuesday, Jan. 22, 2013. Japan's Prime Minister Shinzo Abe declared a "monetary regime change" Tuesday as the central bank bowed to government pressure, setting a 2 percent inflation target aimed at helping the country emerge from its prolonged bout of deflation. (AP Photo/Koji Sasahara)
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A woman walks by an electronic stock board of a securities firm in Tokyo, Friday, Jan. 25, 2013. Japan’s benchmark stock index jumped about 2 percent Friday after the country’s currency continued to slide against the dollar. (AP Photo/Koji Sasahara)
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A man walks past an electric stock price indicator in Tokyo, Wednesday, Jan. 16, 2013. Japan’s benchmark index toppled off a 32-month high Wednesday after its currency’s downward slide went into reverse. (AP Photo/Shizuo Kambayashi)
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Men watch an electric stock price indicator in Tokyo, Wednesday, Jan. 16, 2013. Japan’s benchmark index toppled off a 32-month high Wednesday after its currency’s downward slide went into reverse. (AP Photo/Shizuo Kambayashi)
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A man watches an electric price display of a securities firm in Tokyo, Wednesday, Jan. 16, 2013. Japan’s benchmark index toppled off a 32-month high Wednesday after its currency’s downward slide went into reverse. (AP Photo/Shizuo Kambayashi)
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In this Jan. 22, 2013 photo, Bank of Japan Gov. Masaaki Shirakawa speaks to the reporters at the prime minister's official residence in Tokyo. Japan’s central bank governor says he is resigning three weeks before his five-year term expires on April 8 so his departure will coincide with those of his top deputies. (AP Photo/Koji Sasahara)
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Bank of Japan Gov. Masaaki Shirakawa, center, poses with the other members of Policy Board of the BOJ on the last day of their two-day meeting at its headquarters in Tokyo Tuesday morning, Jan. 22, 2013. Shirakawa vowed to achieve the inflation benchmark "as soon as possible," in cooperation with the government Tuesday. (AP Photo/Kyodo News) JAPAN OUT, MANDATORY CREDIT, NO LICENSING IN CHINA, HONG KONG, JAPAN, SOUTH KOREA AND FRANCE
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Japan's Finance Minister Taro Aso, center, along with Economics Minister Akira Amari, right, and Bank of Japan Gov. Masaaki Shirakawa, left, speaks to the reporters after meeting with Prime Minister Shinzo Abe, not in photo, at the prime minister's official residence in Tokyo, Tuesday, Jan. 22, 2013. Japan's Prime Minister Abe declared a "monetary regime change" Tuesday as the central bank bowed to government pressure, setting a 2 percent inflation target aimed at helping the country emerge from its prolonged bout of deflation. (AP Photo/Koji Sasahara)
Japan's central bank governor to resign early
TOKYO (AP) — Japan's central bank governor says he is resigning three weeks before his five-year term expires on April 8 so his departure will coincide with those of his top deputies.
Bank of Japan Gov. Masaaki Shirakawa told reporters he offered to resign as of Mar. 19 at an economic policy meeting on Tuesday.
Shirakawa and Prime Minister Shinzo Abe have appeared at odds over Abe's insistence that the central bank more aggressively ease monetary policy to help spur economic growth. His early resignation is unusual. However, Shirakawa said his move was motivated by logistical, rather than political reasons. His top deputies' terms expire in Mar. 19.
Government spokesman Yoshihide Suga said Tuesday that Abe intends to replace Shirakawa with an expert whose views are more closely aligned with his own.
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