BoJ officials took pay cuts in wake of natural disaster

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The Bank of Japan's (BoJ) annual review for fiscal 2011, published on August 31, revealed that the central bank's officers took pay cuts to support reconstruction efforts following the Great East Japan Earthquake in March last year.

The central bank's officers, comprising board members, auditors, executive directors and counsellors, saw an overall decline of 16.2% in their wage budget. This comprised a cut of 0.5% and a further temporary reduction of between 10% and 30%. The review explained

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