BOJ

The Bank of Japan (BOJ) is the central bank of Japan. It was established in 1882 and is headquartered in Tokyo.

The BOJ's main responsibilities include issuing and managing the country's currency, implementing monetary policy, and ensuring the stability of the financial system. It also acts as a lender of last resort to banks during times of financial crisis. The BOJ sets the interest rate of the country and sets an inflation target, aiming to achieve 2% inflation.

The BoO has a long history, with its origins dating back to the Meiji period (1868-1912) when Japan was undergoing rapid modernization and westernization. Initially, the BOJ was modeled after the Bank of England and was primarily responsible for issuing and managing the new national currency. Over the years, the BOJ has undergone several changes and reforms, including being reorganized as a public institution in 1942, and since then it has gained more autonomy and independence in its decision-making, though it is not fully independent like the Federal Reserve or European Central Bank.

The BOJ has played a key role in the country's economic development and has been instrumental in maintaining monetary stability, but it has also been criticized for not doing enough to fight deflation, especially after the burst of the Japanese asset price bubble in the late 80s and early 90s. The BOJ also pioneered yield curve control (YCC).