No deal on BoJ chief as deadline nears

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TOKYO, Mar 17 (Reuters): Japan's government struggled to resolve a deadlock over a new central bank chief, but chances of a breakthrough before a Wednesday deadline when the current governor retires were dimming even as market turmoil took the dollar to fresh lows and battered Tokyo stocks.
Opposition parties, which can veto nominees to succeed Bank of Japan (BoF) Governor Toshihiko Fukui, last week rejected the government's first choice to replace him, Toshiro Muto, raising the possibility of a monetary policy vacuum.
On Monday evening, the ruling party told the opposition the government would not submit a new candidate that day, an opposition lawmaker said.
"This is not something that the government can decide on its own," Prime Minister Yasuo Fukuda told reporters. "All we can do is act cautiously ... it's under discussion."
He said speed was desirable but that the stance of the main opposition Democratic Party on potential candidates was unclear.
The showdown reflects a broader political deadlock that is undermining confidence in Fukuda, who is already suffering public doubts about his leadership that have cut his support rates to around 30 per cent, a critical level for political survival.
Chief Cabinet Secretary Nobutaka Machimura told a news conference that Wednesday's deadline for a new central bank governor could still be met if the nominee were unveiled Tuesday, but an opposition lawmaker said time was running out.