Bank Of Japan Boj

The Bank of Japan (BoJ)  is the central bank of Japan.          
The BoJ was established by a juridical person based on the Bank of Japan Act of 1882 and is not a government agency or a private corporation
The bank is commonly known as  Nichigin (日銀) for short.

Bank Of Japan Boj



The headquarters of BoJ are located in Chūō, Tokyo, and is run by a group of individuals known as “The Policy Board“.
The key objectives of the bank of Japan are:       


  • “To issue banknotes and to carry out currency and monetary control” and
  • “To ensure smooth settlement of funds among banks and other financial institutions, thereby contributing to the maintenance of the stability of the financial system.”

The Bank of Japan Act explains the Bank’s principle of currency and monetary control as follows:
“currency and monetary control by the Bank of Japan shall be aimed at achieving price stability, thereby contributing to the sound development of the national economy.”

The Bank of Japan fulfills this aim by influencing short- and long- term interest rates to remain at target levels and purchases assets, mainly through open market operations.
Policy Board at Monetary Policy Meetings (MPMs)  decides the monetary policy which are held eight times a year for two days.
At MPMs, the Policy Board discusses the nation’s economic and financial situation, sets the guidelines for money market operations and the Bank’s monetary policy stance for the immediate future.
The policy board analyzes the economic and financial situation of the country, establishes the guidelines for money market operations and the bank's monetary policy stance for the immediate future in MPMs.
A majority vote of the nine members of the Policy Board makes Monetary policy decisions which includes the Governor, the two Deputy Governors, and the six other members.
Right after an MPM, the  Outlook for Economic Activity and Prices (Outlook Report), also known as the “The Bank’s View”, is released.
A week after the MPM, a Summary of Opinions  is released.  This is literally a summary of opinions on economic and financial developments and monetary policy.
About two months after the MPM, the minutes of the meeting will be released, which is called…surprise surprise... the  MPM Minutes.
A list of scheduled dates of the meetings, policy statements, minutes of the meetings; and the Outlook for Economic Activity and Prices (the Outlook Report) can be found on the BoJ’s website.

 

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