The BOE’s appointment of new figures, including the second appointment of a female deputy governor in its 300-year history, has revitalized the atmosphere within the bank. These efforts to modernize the organization demonstrate a desire to make it competent. The BOE has begun to reconsider its longstanding practice of secrecy of information.
The BOE’s advocacy of “One Bank” can be understood as an effort to remove the concept of so-called core departments and to create an atmosphere in which every member can compete on an equal footing and work in cooperation. It is interesting that, in short, the characteristics of BOE’s reforms mentioned above have many things in common with the purpose of our BOK’s reform.