The Bank of Japan is the central bank of Japan and is responsible for implementing and maintaining monetary policy in the country. It was founded in 1882 and is headquartered in Tokyo.
The Bank of Japan's main objective is to maintain price stability in the country and achieve sustainable economic growth. It does this through various means such as setting interest rates, purchasing government bonds, and intervening in foreign exchange markets to influence the value of the Japanese Yen.
The Bank of Japan is overseen by a governor and two deputy governors, who are appointed by the Japanese government. The bank is also governed by a policy board, which makes decisions on monetary policy and meets eight times a year.
Overall, the Bank of Japan plays a critical role in shaping the Japanese economy and is one of the most influential central banks in the world.
The BOJ is governed by a policy board that consists of nine members, including the governor and two deputy governors. The board meets regularly to set monetary policy, including the bank's target interest rate and asset purchase programs.
In addition to its monetary policy responsibilities, the BOJ also acts as a lender of last resort to financial institutions and plays a role in maintaining the stability of the Japanese financial system. The bank is also responsible for issuing Japan's currency, the yen.
Over the years, the BOJ has implemented a range of monetary policy measures to support the Japanese economy. These measures have included interest rate cuts, asset purchases, and forward guidance, among others.