When a trusted steward of monetary policy departs without explanation, the institution he leaves behind must answer for more than his absence. Perry Warjiyo, who guided Bank Indonesia through eight years of economic turbulence, resigned unexpectedly on Monday, leaving markets in Jakarta to weigh not merely a personnel change but a question of institutional character. In economies where central bank independence is hard-won and easily lost, the identity of a successor can speak louder than any policy statement.