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Bank of Japan

The Bank of Japan (日本銀行, Nippon Ginkō or BOJ ) is the central bank of Japan.

Based in Chuo, Tokyo, bank is responsible for issuing and handling currency and treasury securities, implementing monetary policy, maintaining the stability of the Japanese financial system, and providing settling and clearing services.

As stated on its website, the bank's objectives 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 stability of the financial system."

According to the Bank of Japan Act, the 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.

After the election of Prime Minister Shinzō Abe, the Bank of Japan has taken proactive steps to restrain deflation in Japan.

Led by new Governor Haruhiko Kuroda, the Bank of Japan on April 5, 2013 announced that it would be purchasing securities and bonds at a rate of 60-70 trillion yen a year in an attempt to double Japan's money supply in two years.

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