Bank of Japan facts for kids

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Bank of Japan
日本銀行 (Japanese)
BoJ.jpg
Headquarters Chuo, Tokyo, Japan
Coordinates 35°41′10″N 139°46′17″E / 35.6861°N 139.7715°E / 35.6861; 139.7715
Established 1882
Governor Masaaki Shirakawa
Central bank of Japan
Currency Japanese yen
ISO 4217 Code JPY
Base borrowing rate 0%-0.10%
Website www.boj.or.jp
Preceded by First National Bank

The Bank of Japan (日本銀行 Nippon Ginkō, BOJ), also known as Nichigin (日銀), is the central bank of Japan. The main offices of the bank are in Chuo, Tokyo.

History

Matsukata Masayoshi founded the Bank of Japan in 1882 (Meiji 15). The bank was adapted from a Belgian banking model.

Changes based on other national banks were made part of bank regulations. BOJ was given a monopoly on controlling Japan's money supply in 1884.

The Bank of Japan issued its banknotes in 1885 (Meiji 18). In 1897, Japan joined the gold standard.

Location

The Bank of Japan is headquartered in Nihonbashi, Tokyo, on the site of a former gold mint (the Kinza). It is near the Tokyo's Ginza district The Neo-baroque Bank of Japan building in Tokyo was designed by Tatsuno Kingo in 1896.

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