June 2, 2014 / 9:06 AM / 3 years ago

Key BOJ monetary official Amamiya to be reappointed -sources

TOKYO, June 2 (Reuters) - The Bank of Japan will reappoint Masayoshi Amamiya, an architect of its quantitative easing, for a rare second term as an executive director to oversee a key division charged with drafting monetary policy, sources with knowledge of the process said.

Appointed as one of the BOJ's six executive directors in 2010, the 58-year-old career central banker had overseen the powerful Monetary Affairs Department until May 2012 when he was sent to the bank's branch in Osaka.

He was reappointed to oversee the monetary affairs department in March 2013 and helped Governor Haruhiko Kuroda to deploy the current massive stimulus programme a month later.

His four-year term as executive director, which remained in effect during his stint in Osaka, expires on Monday.

With the unusual decision to appoint Amamiya for a second term, the central bank ensures that responsibility for meeting its 2 percent inflation target remains in the hands of a veteran official known for his deep contacts with the finance ministry and lawmakers. (Reporting by Leika Kihara; Editing by Edmund Klamann)

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