BoJ slashes bonuses and top officials’ pay

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The Bank of Japan (BoJ) made wage and spending cuts across the board in 2009 in a bid to streamline its operations, its Annual Review 2010, published Friday, revealed.

The central bank reported a 14.7% drop in expenditure overall, which brought spending in 2009 down to Y182.8 billion ($2.1 billion). Nearly Y2.2 billion of the reduction was down to efficiency savings, led by a Y880.5m cut in personnel expenditure.

Pay cuts
The officers of the central bank took a cumulative Y4.6m pay cut, taking th

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