The scandal-tainted Bank of Japan started afresh Wednesday under the new BOJ Law, which gives the central bank more independence from the government but requires its monetary policymaking to be more transparent.

At an entrance ceremony at the BOJ’s head office in Tokyo, BOJ Gov. Masaru Hayami told new recruits who joined the central bank Wednesday to feel proud and act with a conscience. “It is regrettable indeed to have misconduct by one of our officials,” Hayami said in front of the 89 new employees at the ceremony, which was closed to all but a press pool photographer and a TV camera crew. The BOJ recruited a total of 206 people nationwide. “You must be bewildered or worried by the incident immediately before joining the bank,” he said. “It is the responsibility of us all, including you, to build a respectable Bank of Japan.”

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.