Bank of Japan Governor Nominated to New Five-Year Term

TOKYO—Prime Minister Shinzo Abe’s government on Friday nominated Bank of Japan Gov. Haruhiko Kuroda to a new five-year term, a move that indicates monetary conditions will be kept ultra-loose for now.

Mr. Kuroda, in office since 2013, will face new challenges in his next term after recent turbulence in global stock markets and a sharp rise in the yen since the beginning of 2018, which threatens the profits of Japanese exporters. The yen on Friday rose further, to around 106 to the U.S. dollar—its highest level since November...