Ex-BOJ Deputy Governor Fujiwara Dies at 88
Sakuya Fujiwara, the first Bank of Japan deputy governor from the private sector, died of hepatocellular carcinoma at his home in Yokohama, near Tokyo.
After graduating from Tokyo University of Foreign Studies in 1962, Fujiwara joined Jiji Press, where he reported on the Ministry of Finance and the BOJ.
He also served as a correspondent in Washington and chief commentator. Fujiwara became BOJ deputy governor in 1998 under the new BOJ law.
This law granted the central bank autonomy in monetary policy decisions. In 1998, the BOJ was hit by a wine-and-dine scandal, leading to the resignation of its governor and others.
Fujiwara supported then Governor Masaru Hayami, who returned to the bank to assume the top post after serving as chairman of trading house Nissho Iwai Corp., now Sojitz Corp.
He was a key figure in the Bank of Japan's history.
Author's summary: Sakuya Fujiwara died at 88.
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