The Bank of Japan is the central bank of Japan. The bank is often called Nichigin (日銀) for short. It is headquartered in Nihonbashi, Chūō, Tokyo.
Some of the key events about Bank of Japan
1882
Established as Japan's central bank to stabilize the financial system and currency
1927
Failed to prevent bank runs and financial panic during the Showa Financial Crisis
1931
Abandoned the gold standard, leading to rapid currency depreciation
1937
Financed Japan's wartime economy through excessive money printing
1942
Gained independence from the government through the Bank of Japan Act
1945
Lost control of monetary policy to Allied occupation forces after World War II
1949
Implemented policies to support post-war economic recovery and stabilize inflation
1973
Successfully managed the economic impact of the first oil shock
1985
Played a key role in negotiating the Plaza Accord to address global currency imbalances
1990
Failed to prevent the collapse of Japan's asset price bubble
1991
Delayed implementing monetary easing policies as Japan entered a prolonged recession
1997
Raised interest rates prematurely, contributing to the Asian financial crisis
1999
Introduced zero interest rate policy to combat deflation
2001
Pioneered quantitative easing as a monetary policy tool
2001
Introduced quantitative easing but failed to achieve inflation targets
2010
Launched comprehensive monetary easing to stimulate economic growth
2011
Faced criticism for slow response to deflationary pressures following the Great East Japan Earthquake
2013
Initiated an unprecedented monetary easing program to combat deflation and boost growth
2016
Introduced negative interest rates to further stimulate the economy
2016
Implemented negative interest rates, causing concerns about bank profitability and economic distortions
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.